Nationwide E-Savings

losthour

My girlfriend is a student and has just recieved her interest for the year from nationwide E-Savings- this was about £42 but she also had to pay £10 tax. Should she be paying this as a student and if not can she claim it back?

beckyboopboop

As long as she doesn't earn more than the personal allowance of £5225 then she doesn't have to pay tax on interest from savings. She needs to fill in a R85 form, which can either be printed off from the Nationwide internet banking site or you can get them in branch. It says on the form that they will be able to repay any tax that has been paid in this tax year.
Hope this helps!

losthour

beckyboopboop wrote: »

As long as she doesn't earn more than the personal allowance of £5225 then she doesn't have to pay tax on interest from savings. She needs to fill in a R85 form, which can either be printed off from the Nationwide internet banking site or you can get them in branch. It says on the form that they will be able to repay any tax that has been paid in this tax year.
Hope this helps!

That helps alot. Thanks!

I thought there might be a way she could get it back but didn't know the form. Only £10 odd but rather her have it than the greedy Gov!

Voyager2002

Yes, she can contact her tax office to arrange a refund.