Over payment of Tax

McKneff

I retired last September and now receive 60% state pension and a small private pension.
Last week I spoke to HMRC and they said that they were just waiting for my P60 from the p/pension company, they already had my p45 from my employer, tax situation would be calculated and I would get a refund in June/July as appropriate.

I just realsied that I have 2 small accounts with 2 building societies on which I will pay a small amount of tax and have also received a document from the Halifax this am regarding the Halifax 'reward'

£75 gross to me and my OH because of a joint account

£15 tax paid

Nett payment over the year is £60 (correct)

Do I wait till I get the notices of tax paid from these building societies and claim all 3 lots of tax back.

MY OH is a non tax payer, hasnt been for over 10 years now,
how does he stand regarding half of this 'Reward' £15 tax.

Mikeyorks

McKneff wrote: »

Do I wait till I get the notices of tax paid from these building societies and claim all 3 lots of tax back.

Bit unclear which year we're discussing? As I assume the Halifax is 11-12? But the Bldg societies seem to be 12-13 ..... as you use the future tense?

If you retired in Sept - possibly you are still a taxpayer for 11-12? There may be some tax due back (unused allowances from Sept) - but you may still be above your allowance? But bear in mind that if only marginally above - the 10% Savings rate may come into play?

For 12-13 - should be clearer if you're a taxpayer or otherwise? If not an R40 to reclaim interest. And you can include all relevant accounts on the one.

Your husband needs a separate R40 to claim his 50% of the Halifax interest back. And can claim back to 08-09 (inc) or whenever you took the Halifax account out. Single (as opposed to joint) Halifax accounts work out better as regards 'Rewards'!

My wife has one to abuse the housekeeping from. And we have a joint one that all income goes into / all bills out of. But it depends what suits. I have to keep the housekeeping distant from the accounts I patrol - otherwise she'd drive me daft!

A few real figures if you want help calculating the tax?

xylophone

Is either one of you eligible to sign the R85 for your savings accounts? See also http://www.hmrc.gov.uk/tdsi/ten-per-cent-guidance.htm but this uses allowance figures for a previous year, so see http://www.hmrc.gov.uk/rates/it.ht

McKneff

Sorry MY.
I'm referring to the last tax year 11/12 in all cases.

Your post was very helpful and good that you spotted my OH can claim back 'rewards tax.

Not 100% sure how much will come back re the allowance. I only recieve 60% state pension and £144 per month in P/pension.

Do I get the R40 forms from the tax office.

I had to smile at one part of your post.

I read 'my wife has one to abuse the housekeeper'

Thanks for your hlp

McKneff

xylophone wrote: »

Is either one of you eligible to sign the R85 for your savings accounts? See also http://www.hmrc.gov.uk/tdsi/ten-per-cent-guidance.htm but this uses allowance figures for a previous year, so see http://www.hmrc.gov.uk/rates/it.ht

Oh did his R85 many moons ago and I now need to sort mine out.
The two small b/s accounts are with Nationwide and Newcastle b/s (carpetbagging but I think I will just withdraw the funds and close the accounts so wont hve the same bother next year.
I'm getting too old for this lark lol

Mikeyorks

McKneff wrote: »

Do I get the R40 forms from the tax office.

...... or you can print them from here :

http://www.hmrc.gov.uk/forms/r40.pdf

I read 'my wife has one to abuse the housekeeper'

No - she is the housekeeper! Whilst I do my bit ...... she just goes over it again!