R85 questions

Frogletina

I will be living on my income from savings plus capital for a couple of years and I think that the interest I will receive will be less than the current personal allowance.

However, if interest rates climb this may not be the case so should I complete R85 forms or wait until the end of the financial year and claim then? Can anyone advise what would be the benefits of using the different methods?

Onawingandaprayer

Personally, in your situation, I would complete R85s now and then let HMG know if you go over the limits.

Money far better in your hands than theirs (IMHO!)

Eco_Miser

juicyjude wrote: »

Also how do I go about sorting gross interest out on my interest on internet accounts. Sorry to be a pain if anyone could help me on this I would be most grateful. Thank you.

Log on to you accounts and look for a Tax Status link.
The AA lets you change your tax status right there, Halifax asks you to phone, other banks will vary. If you can't find a link, do as evenasus said and send a paper form.