Tax incorrectly deducted on savings!

puzzle735

I have recently closed an on-line savings account and received interest minus 20% tax deducted but my income is only £1000 a year. I completed an application form, downloaded an R85 form from the HMRC website and sent both in together! I have emailed the establishment concerned but suspect they will say it was never received and I have to claim the tax back.
Basically, can I make them pay and will I have to wait untill the end of the tax year to reclaim it if they don't pay reimburse the tax element. I should not have to do wait for their mistake.
Thanks in anticipation.

Mikeyorks

You can but ask them? As some will retrospectively action an R85 for interest already paid. But as you've closed the account - I suspect the answer will be that you have to apply direct to HMRC after 5th Apr 2009?

But if you don't ask them you won't know if they admit an error - or merely state they didn't have the R85 and you should have checked the tax status whilst online. And bear in mind some Banks don't accept paper R85's - you have to ring them when the account is open.

Milarky

Mikeyorks wrote: »

as you've closed the account - I suspect the answer will be that you have to apply direct to HMRC after 5th Apr 2009?

That seems to be my experience - interest gets re credited after deduction where the account still remains open. But after being closed they have nothing to 'credit' as such - so you have to take it up with the 'taxman'.