We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Tax rebate for tax paid on interest when unemployed??
Options
thebeak
Posts: 69 Forumite
Hello eveyone,
Do you know how far back you can get a tax rebate from? Is there an expiry period? Before I was as money savvy as I am now I was paying tax on interest. I have all the statements from the account, Is there a way i can claim this back now?
Thank you
Do you know how far back you can get a tax rebate from? Is there an expiry period? Before I was as money savvy as I am now I was paying tax on interest. I have all the statements from the account, Is there a way i can claim this back now?
Thank you
"Not setting your clock forward and arriving an hour late to work is no excuse" The Boss' words - not mine!
0
Comments
-
I think 7 years, but I may be confusing that with something elseI am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
I think it's 6 yrs actually though this HMRC explanation makes it sound like it's the current tax year and the previous 5! Best call HMRC, they're usually very helpful.
Yes. I think you're confusing it with the statute of limitations on necrophilia in Kazakhstan - easy mistake to make!I think 7 years, but I may be confusing that with something else
Further details of who to claim from etc, from DIRECTGOV.0 -
Is there a way i can claim this back now?
Thank you
Only if your earnings + gross interest ..... were less than your personal allowances for the full tax year in question? But you may be able to claim some tax in the 10% band back - if the earnings + interest exceeded the allowance by up to around £2k.
'being unemployed' for any part of the period ... isn't relevant on its own. The limitation period (outside of Kazakhstan) is dead (:rolleyes: ) accurate at 5 years from the 31/1 after the tax year for which you're claiming.If you want to test the depth of the water .........don't use both feet !0 -
Thank you for your replys, thanks for the link Ian W I will have to check that out.;)
One other thing....the account which I am talking about I have since closed...Is that a problem? I still have all the statements and all the documents."Not setting your clock forward and arriving an hour late to work is no excuse" The Boss' words - not mine!0 -
Is this because the money paid in interest would have been on my statement of tax for the year? So the Inland Revenue would check that?"Not setting your clock forward and arriving an hour late to work is no excuse" The Boss' words - not mine!0
-
You will get the refund from HMCR not the provider. You may be asked for certificates of tax deduction which you would get from the bank. But only do this if asked by the tax man.
You will probably be asked to fill a form out giving income for the years in question and be paid after a few weeks with no questions asked.
Make sure you complete R85s for this and future years.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.3K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards