We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
R85 Form - please help much appreciated?
pukka18
Posts: 8 Forumite
in Cutting tax
Im 23. I have some inheritance money in my bank, and I get interest each year. About 3,000. Anyway, I'm training to be a nurse and receive an NHS Tax free bursary for living expenses etc. This is 7,500 each year, roughly.
According to R85 Form if my net income is less than 5,225 I should receive back-pay for 20% of my interest.
It says the income excludes student loans.
Is my Tax Free NHS bursary included as "income" in respect to this? Will I get tax back with this form? My income should only really be the interest...?
Am I totally wrong? Agh please help me!
According to R85 Form if my net income is less than 5,225 I should receive back-pay for 20% of my interest.
It says the income excludes student loans.
Is my Tax Free NHS bursary included as "income" in respect to this? Will I get tax back with this form? My income should only really be the interest...?
Am I totally wrong? Agh please help me!
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.8K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.6K Work, Benefits & Business
- 604.5K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards