Interest paid without deduction of tax

Archi_Bald

Handy calculator for 2015-16 provided by the HMRC: http://www.hmrc.gov.uk/tools/r85/r85-2015.htm

The 2014-15 calculator is here.

wiltslass

I have got r85's registered already to receive interest gross. I am wondering if I will need to do new ones for 2015/16. I have not renewed them annually in the past.

Eco_Miser

I don't see any reason why you need to. If you meet the current conditions, you will still meet the new conditions.

AlwaysLearnin

Ed-1 wrote: »

There's a new R85 form coming out for the start of the tax year to accommodate the changes.

Looks like the new form's out:

https://www.gov.uk/government/publications/income-tax-get-interest-without-tax-taken-off-r85-from-6-april-2015 (link fixed)

Corncrake2

AlwaysLearnin wrote: »

Looks like the new form's out:

https://www.gov.uk/government/publications/income-tax-get-interest-without-t ax-taken-off-r85-from-6-april-2015

That is odd, got a "page not found"
did a search on R85 and got this link, which looks same as yours, very odd !
Lets see if mine works :

https://www.gov.uk/government/publications/income-tax-get-interest-without-tax-taken-off-r85-from-6-april-2015

EDIT ah I see the prob. there is a wayward space in your link " -t ax-taken-off"

bigfreddiel

There is a calculator on the .gov site which is very easy to use.

I do have a question tho', about ns&i investment bonds which pay interest monthly tax free. So I will be entering that on my tax return in the untaxed income section. That's fine for 14/15, but for 15/16 do I just register at ns&i for tax free interest but it's tax free already! Or will there be a new section on the tax return for 15/16?

Cheers fj

Ashley2014

Do I have to re register for gross interest each new tax year?

dzug1

Ashley2014 wrote: »

Do I have to re register for gross interest each new tax year?

Maybe, maybe not - depends on the bank, etc

Vortigern

Ashley2014 wrote: »

Do I have to re register for gross interest each new tax year?

No, you just do it once, for each account, but...

• You'd have to register each new account you open subsequently.
• You have to rescind your registration if you no longer qualify.
• All interest will be paid gross after April 2016 (probably)