Halifax Tax Free Interest?

Mike54_2

Well in true money saver style, I downloaded a form of the web for my HSBC accounts to make them not take tax from my interest as im under 18 and dont like qualify for tax.

I have a Halifax account with like £2k in it, do you know where I can get a form to complete to tell them to not take tax from my interest?

Thanks!
- Mike

CLAPTON

Its not your age that determines whether you pay tax or not (a one year old can pay tax!) but whether your total yearly taxable income (including earnings and interest) is less than 5225 per year.

Mike54_2

My bad!

Well either way, I shouldnt be taxed!! I dont go over that limit.

Is it possible to get a form online from Halifax?

Mike54_2

Dont worry guys am using this one
http://www.hmrc.gov.uk/forms/r85.pdf

stuartm100

Halifax will accept verbal registrations over the phone, just need to call them and tell them you're entitled to Gross interest

Mikeyorks

Mike54 wrote: »

Dont worry guys am using this one
http://www.hmrc.gov.uk/forms/r85.pdf

You're wasting your time - they won't accept paper R85s. You phone them - they register you for gross - then they write to you confirming that and setting out the declaration you have nominally 'signed'

moomintroll_3

Mikeyorks wrote: »

You're wasting your time - they won't accept paper R85s. You phone them - they register you for gross - then they write to you confirming that and setting out the declaration you have nominally 'signed'

Hmmm..... Halifax wanted to see a paper R85 when I registered my son for gross interest! That was a couple of years ago though, so perhaps they've changed policy.

stuartm100

The rules changed within the last 2 years, R85 forms were always required and then all of a sudden it was changed to verbal registrations only