I don't pay tax - ISA?

givememoney

Bearing in mind I don't now pay tax as I am retired, is there any point in relying on ISA accounts.

Is it possible to open an account stating you do not want tax deducted,I'm guessing it is.

CLAPTON

retired people do pay tax just like anyone else

however if your total income is less than your tax allowance then yes you fill in a R85 for each a/c asking the bank to pay your interest gross rather than net

xylophone

I don't now pay tax as I am retired

Retirement does not automatically equate to being a non-taxpayer.
http://www.hmrc.gov.uk/pensioners/pension.htm

McKneff

If you can get a better rate than an ISA in a normal savings account, as said before, you just fill in an R85 form and you will not pay any tax on the interest.

givememoney

Just to reiterate `I do not pay tax`. I didn't say others don't pay, I said I don't.

My state pension along with my company pension is less than the tax threshold.

Thanks for the other info though about the R85 form.

I am inclined to open accounts on-line and wondered if there is a bit about non-tax payers on there.

le_loup

givememoney wrote: »

Bearing in mind I don't now pay tax as I am retired

givememoney wrote: »

Just to reiterate `I do not pay tax`. I didn't say others don't pay, I said I don't.

......... but you can see why people who are trying to help you were confused!

mania112

givememoney wrote: »

Just to reiterate `I do not pay tax`. I didn't say others don't pay, I said I don't.

I knew what you meant, and so did those who replied.

a&akay

I am inclined to open accounts on-line and wondered if there is a bit about non-tax payers on there.[/QUOTE]

Santander 123 allows you to get 3% gross online if you follow its monthly rules for £3k-20k savings and you can change it at will online, depending on your current tax status. I also get £10 a month back, after taking off the £2 fee, from my Sky, gas, electricity and now Council tax by DD which you can now do. I did that online with the Council. All the other DDs changes I did online except for water, which I did by email.

Nationwide FlexDirect for the 5% on the first £2.5k if you follow its rules must be by post, but that's FREEPOST. If you open one enter 'R85' in the Nationwide search box.

CLAPTON

mania112 wrote: »

I knew what you meant, and so did those who replied.

Your psychic powers have let you down; don't give the day job.

More interesting to note that although the OP received speedy, accurate and helpful advice there were no 'thanks' for anyone.

givememoney

CLAPTON wrote: »

More interesting to note that although the OP received speedy, accurate and helpful advice there were no 'thanks' for anyone.

Yes I did say thanks

Thanks for the other info though about the R85 form.

Admittedly, I didn't click the individual buttons so it was `thanks` in general.

I suppose I couldn't believe I stated the obvious and people seemed to be doubting what I said. I still cannot see the confusion in my original post.

mania112

givememoney wrote: »

I still cannot see the confusion in my original post.

Some people like to let other people know when they've said something not word-for-word perfect, even when they fully understood the meaning.

Those people tend to lack common sense, friends and a job which involves being face-to-face with customers.