Form R85 or R40

SallySunshine

Getting in a bit of a muddle with this, my husband is eligible to claim his savings interest back and has been doing this for several years by SA
He is going to do this again at the start of April 2016, but will probably then send out R85's to various banks/bs, most of which are operated on-line. As his state/occupational pensions have just started and are not over his PA,the new savings allowance make sense now to do this.

A 5 yr bond is just about to mature and we will be opening another type in the New Year, is it feasible to fill in a R85 for that one, then obviously not enter that for tax rebate, then send off the others forms after April

The other alternative is to fill in an R40 annually but that seems more of a faff.

patanne

I am sure I have read that from April 2016 the banks will not be taking tax from interest payments, so you only have this year to worry about. I'm sure someone will be along to confirm this.

jem16

Yes gross interest from April 2016 for everyone so R85s will no longer be required.

SallySunshine

Thanks for replies, I realised that just after I posted, don't know what I was thinking of.
Will just claim back interest in April for the past year.