tax on interest from savings

Woodlander

Good evening


Wondering if anyone can let me know whether I will have to pay tax on the interest from my savings (proceeds of house sale) - probably the interest will be about £3,500 this year. I'm not earning - I stopped working as self-employed 5 years ago to become carer for Mum. Am anticipating living off savings until state pension kicks in, in about 4 years time.


I've been reading a few of these posts and another query's popped into my head - as I stopped working 5 years ago, am I entitled to claim back any tax paid for previous years?


(Wasn't entitled to claim carer's allowance because although I travelled 3 hours per day to get to Mum's, the hours I actually spent physically caring for her didn't equal the minimum required to get the allowance. So have been living off savings and Mum's attendance allowance ever since). (Only saying this in case it affects the tax situation).


Thanks all.

CLAPTON

you can have 10,600 per annum before tax is due

so you should have R85 registered for all you savings accounts so no tax is deducted

jennifernil

I think you can go back up to 4 years to reclaim tax if you had less than the personal allowance.