Gross interest question

av1977

Hi everyone - hopefully an easy one

My wife has given up work to look after our children full time. She isn't signing on, and we don;t receive benefits, other than child benefit. Should she be able to claim gross interest on her savings? Other than applying with her bank does she need to contact a tax office?

Many thanks

fengirl_2

First of all, has she worked this tax year and paid tax? If so, she needsd to claim a refund and she can do this by completing form P50 from the HMRC website.
If, after having reclaimed her tax overpaid this year, she is still liable to tax, then she can't register for gross interest this year and will have to wait for next year. If, after her repayment this year, she is not liable, then she can register this year. She does not need to contact HMRC as the bank/BS will do this.

av1977

Thats great - thanks ever so much!