Tax Certificates

Geoffo_M

This is my second year of asking for tax certificates, to enable me to claim tax back on net interest. Last year, I wrote to the banks/building societies that I had accounts with. Will those that I still have accounts with automatically send me a certificate this year, or do I have to ask again?

Biggles

You may well have to ask again, but you don't need a certificate as long as you know the amount of interest and the tax deducted, you just send off the form R40. It's only if there is ever any query the HMRC may ask for certificates.

gozomark

why not fill in an R85 so you receive interest gross ?

http://www.hmrc.gov.uk/forms/R85.pdf

Paul_Herring

Geoffo_M wrote:

Will those that I still have accounts with automatically send me a certificate this year, or do I have to ask again?

From personal experience, these get sent out automatically anyway - I've never asked for them, but they still get sent; it might even be a requirement.

gozomark wrote:

why not fill in an R85 so you receive interest gross ?

It's entirely possible to be required to claim tax back while not being eligible for R85 status. (10% tax payer e.g.)

Geoffo_M

gozomark wrote: »

why not fill in an R85 so you receive interest gross ?

http://www.hmrc.gov.uk/forms/R85.pdf

Thanks but I am not eligible to receive interest gross

Geoffo_M

Biggles wrote: »

You may well have to ask again, but you don't need a certificate as long as you know the amount of interest and the tax deducted, you just send off the form R40. It's only if there is ever any query the HMRC may ask for certificates.

I know they only ask you to fill in totals on the R40, but I understood you still needed tax certificates to support the claim - even though you are not required to send them

Hungerdunger

Geoffo_M wrote: »

I know they only ask you to fill in totals on the R40, but I understood you still needed tax certificates to support the claim - even though you are not required to send them

I've just sent off my first on-line tax return. On it I was asked whether I had certificates for all my interest payments and pension contributions, and there was a box for comments (where I mentioned that I had passbook entries which gave me interest figures on those accounts for which I hadn't received a certificate.)

To me the implication is therefore that you do not need certificates for everything, or they would have mentioned it on the form or in the guidance. (But I could be wrong)