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Form R85 advice please

I am in the process of opening a new fixed rate account.

Problem is, as this is a completely new account and I am sending off the application form, cheque and R85 together, I haven't yet got the account details to fill in on the R85.

Will the new provider complete this once they have opened the account, or are you supposed to wait until you receive confirmation of an account number from them and then send the R85? - sorry, bit confused:o

Thanks.
Stopped smoking 27/12/2007, but could start again at any time :eek:

Comments

  • System
    System Posts: 178,173 Community Admin
    10,000 Posts Photogenic Name Dropper
    hello

    i am no expert, but would say you would have fill in and send off the R85 form to the provider once the account has been opened and confirmed by provider.
  • Masomnia
    Masomnia Posts: 19,506 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I'd wait for the account to be opened and then send the form separately. It'll all be sorted by the time you get any interest, and you can use the form R40 to claim back anything you do end up paying.
    “I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse
  • alanq
    alanq Posts: 4,216 Forumite
    1,000 Posts Combo Breaker
    edited 17 May 2014 at 2:41PM
    Masomnia wrote: »
    you can use the form R40 to claim back anything you do end up paying.

    It's early in the tax year. It is my experience that any tax already deducted from an account, during the tax year the bank receives the R85 for that account, has been repaid by the bank without me having to reclaim it from HMRC.
  • xylophone
    xylophone Posts: 45,234 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    has been repaid by the bank without me having to reclaim it from HMRC.

    But this is not always the case. You would need to check with the financial institution concerned - I remember a case of a Post Office Savings account where it was not policy to do this.
  • mikb
    mikb Posts: 594 Forumite
    Part of the Furniture 500 Posts Name Dropper
    xylophone wrote: »
    But this is not always the case. You would need to check with the financial institution concerned - I remember a case of a Post Office Savings account where it was not policy to do this.

    In the past when opening accounts that I needed to R85, but had no sort code/account no, I pre-filled in the form and put a Post-It against the boxes saying "NOT KNOWN -- NEW APPLICATION" and "Please add when number allocated".

    This worked fine with competent banks/bsocs, who understood.

    YMMV.
  • melbury
    melbury Posts: 13,251 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've been Money Tipped!
    mikb wrote: »
    In the past when opening accounts that I needed to R85, but had no sort code/account no, I pre-filled in the form and put a Post-It against the boxes saying "NOT KNOWN -- NEW APPLICATION" and "Please add when number allocated".

    This worked fine with competent banks/bsocs, who understood.

    YMMV.

    Thanks, that is exactly what I have done:)
    Stopped smoking 27/12/2007, but could start again at any time :eek:

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