Pensioner Bonds Guide

FOREVER21

mgdavid wrote: »

use form R40 after the bond matures, so 1 year or 3 years time

Or if you do self assessment you can reclaim that way each year if you have signed up for the 3 year bond.

Geoffo_M

Anyone heard yet from sending off a postal application?

Terry98

mgdavid wrote: »

use form R40 after the bond matures, so 1 year or 3 years time

Thanks we have never used an R40 before and the NS&I website is not very helpful.

The link to HMRC here http://www.nsandi.com/65-guaranteed-growth-bonds?ccd=NALBAA#ready-to-apply only leads to a general page on tax and not the R40!!

Looking at the notes for the R40 it does not say you have to claim each tax year and can claim at the end of the three year period but it's not very clear.

I bet a good few pensioners are caught out by this and those that need it the most will not claim.

verntern

Geoffo_M wrote: »

Anyone heard yet from sending off a postal application?

Nothing notified to me. My form and cheque should have reached them last Monday. Cheque remains uncashed.

libra10

verntern wrote: »

Nothing notified to me. My form and cheque should have reached them last Monday. Cheque remains uncashed.

Same here.

mgdavid

Terry98 wrote: »

Thanks we have never used an R40 before and the NS&I website is not very helpful.........

Use google?
see here
http://www.nidirect.gov.uk/claiming-back-overpaid-tax-in-retirement
and the links halfway down the page

miller

My thoughts on reclaiming interest:

Already under Self Assessment: You'll get repaid straight into your bank account relatively quickly if you're due.
Not under Self Assessment: You could ask to be registered to benefit from the processing above, bit of a slegehammer to crack a walnut though.
R40: You'll be repaid by cheque relatively slowly (!!!!!! does the form ask for bank details I hear you ask).

The last R40 I sent was processed in about 3 months and they inputted (or a computer scanned) the numbers totally incorrectly resulting in too big a refund when they reconcilled it (PAYE) against annuity income which they seem to do in July. The numbers were corrected by phone, then they obviously wanted the extra money back. All in all a total shambles.

If receiving a pension taxed under PAYE, I'd recommend simply phoning them with your bank/building society interest figures (gross amount, net amount and tax deducted across all accounts), waiting for the reconciliation/P800 and a cheque will be issued automatically.

nilrem_2

Geoffo_M wrote: »

Anyone heard yet from sending off a postal application?

Nothing, Placed the cash in my current account applied for the bonds by post and I have heard nowt and the money is still sitting waiting to be collected, if it ever will be!

TBH I thought that given the chaos of on line applications Post would be the best way to proceed but I am now having my doubts!

Eatchips

Hello Forum,

Newbie here so I bet I have posted in wrong place. I am new to "Bonds". Question:
Can these over 65 NSI Bonds be topped up? So, could I "open" a Bond with £500, then add another £9,500 later. Or, is this a one hit only affair?

Thanks in advance,

Pete

Alter_ego

Eatchips wrote: »

Hello Forum,

Newbie here so I bet I have posted in wrong place. I am new to "Bonds". Question:
Can these over 65 NSI Bonds be topped up? So, could I "open" a Bond with £500, then add another £9,500 later. Or, is this a one hit only affair?

Thanks in advance,

Pete

Sorry fixed bonds are always one hit.
Although if the offer is still open you could (Presumably)open another bond.