Form R85 advice please

melbury

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.

System

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

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.

alanq

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

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

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

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:)