Bank and building society interest

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Bank and building society interest"

Transcription

1 Bank and building society interest Are you paying tax when you don t need to? IR111

2 Contents Tax free income 1 How to get your interest without tax taken off 1 Can you get your interest tax free? 1 People living abroad 1 How to claim tax back 2 No tax to pay? 2 Some tax to pay? 2 Claiming tax back for earlier years 2 Claiming tax back already taken off your interest 2 Claiming tax back for someone else 2 Other things you may need to know 3 Children under 16 3 Gifts of money to children 3 Children aged 16 and over 3 Joint accounts 3 Increases in income 4 Account holder dies 4 Any questions? 5 Customers with particular needs 5 Case Studies 6 Helping someone to get their interest tax free and to claim tax back 6 Children over 16 and students 6 Tax Credits and interest without tax taken off 6 Helpsheet for Form R85 (2004 New) 7 10 We have a full range of services for people with disabilities, including leaflets in Braille, audio and large print. For details, please ask your local Inland Revenue office or Enquiry Centre. Getting your interest without tax taken off (Form R85)

3 Are you paying tax when you don t need to? Young or old, grandchild or grandparent, everyone who lives in the UK is entitled to some tax-free income. Tax free income Do you have a friend or relative paying tax on their bank or building society interest when they may not need to? Parents are your children paying tax when they don t have to? Can you get your interest tax-free? Having some tax free income means that you may not have to have tax taken off your interest by your bank or building society, and if your bank or building society has taken tax off, you might be able to get some tax back. How to get your interest without tax taken off Your bank or building society will usually take tax off your interest. But how much tax you pay depends on how much income you get and how much you are entitled to get tax free. Please follow the Helpsheet for Form R85(2004 New) on pages 7-10 to see if you should have tax taken off your bank or building society interest. If you work out that you can get your interest tax-free, please complete the form Getting your interest without tax taken off (R85) at the end of this leaflet. People living abroad This leaflet is only for people living in the UK. If you live abroad and would like information about tax on bank and building society interest, please go to phone if calling in the UK phone UK if calling from outside the UK. 1

4 How to claim tax back No tax to pay? Some tax to pay? If you have used the Helpsheet on pages 7-10 to work out that you should not pay tax, and your account is already open, you can claim back the tax taken off your interest. The bank or building society takes tax off your interest at a rate of 20%. However, if you pay tax on less than 2,020 of your income then you are only due to pay tax at the starting rate of 10%. You can claim back the tax taken off your interest that is more than you need to pay. Claiming tax back for earlier years Claim by 31 January 2005 and you can go back as far as the tax year Claiming tax back already taken off your interest To claim tax back you have to make a repayment claim. To find out how to claim go to call our Taxback Helpline on , or visit any Inland Revenue Enquiry Centre and ask for the form Claim for Repayment (R40). The address is in your local phone book under Inland Revenue. Claiming tax back for someone else You can claim tax back on behalf of someone else if you are the parent of a child (under 16 in Scotland or under 18 in England, Wales and Northern Ireland) the next of kin of someone who is incapable of managing their own affairs, or a relative of someone who would have difficulty in making a claim, such as someone in poor health. Others, who have an official status, such as a guardian or someone appointed by the courts, can also claim. If you are thinking of claiming tax back for someone else please call our Helpline on for details about what to do next. 2

5 Other things you may need to know Children under 16 A note for parents. Your child is entitled to tax-free income in his or her own right. So he or she may not need to pay tax on interest. Please use the Helpsheet on pages 7-10 to see if this applies to your child. If it does, you should fill in and sign the form Getting your interest without tax taken off (R85) at the back of this leaflet. Then hand it in to the bank or building society. You should also think about claiming tax back. Gifts of money to children You cannot fill in a form Getting your interest without tax taken off (R85) for a child s account where the account includes money that was a gift from you, for example, a birthday present, and all your gifts to the child produce more than 100 interest (before tax) in a tax year. Neither can your child claim any tax back. For more details and advice on gifts to children call our Helpline on Children aged 16 and over The form Getting your interest without tax taken off (R85) is the authority for the bank or building society to pay interest tax-free. But this authority will expire on 5 April following the child s 16th birthday. However, a child can complete a form in his or her own right at any time from 6 April in the tax year that includes their 16th birthday. Joint accounts If all the account holders are entitled to tax-free interest they should each complete their own form Getting your interest without tax taken off (R85), and hand it in to their bank or building society. Where the account holders are not all entitled to tax-free interest, some banks and building societies will let you split account holders into those who get interest tax-free and those who don t. 3

6 If your bank or building society allows this, you should complete the form Getting your interest without tax taken off (R85) at the end of this leaflet and give it to your bank or building society. If your bank or building society will not accept a form, you should claim tax back on your share of the interest directly from the Inland Revenue. For more details and advice on joint accounts call our Helpline on Increases in income A note for people who have given their bank or building society a form Getting your interest without tax taken off (R85). Any increases in your income could mean that you are no longer entitled to get your interest without tax taken off. So please use the Helpsheet on pages 7-10 to check the position again if, for example, you inherit money start a new job get a new pension. If your income increases on or after 6 April 2005, call our Helpline on and ask for a new Helpsheet. Account holder dies If an account holder dies, any interest paid before the date of death belongs to them. The executor or administrator should contact the deceased person s Inland Revenue office to arrange any tax back claim. Interest paid after the date of death belongs to the estate. Even if the person who died was getting interest without tax taken off this cannot apply to the estate. The executor or administrator must tell the bank or building society of the death. Tax will then be taken off any interest paid until the estate has been settled. 4

7 Any questions? This leaflet does not cover all the details about tax on bank and building society interest. If you have any questions about getting your interest tax-free please call our Helpline on (local rates) claiming tax back on your interest please call our Taxback Helpline on (local rates). Or you can visit any Inland Revenue Enquiry Centre. The address is in your local phone book under Inland Revenue. Customers with particular needs We offer a range of facilities for customers with particular needs. For complete details please visit or look in the Phone Book under Inland Revenue for your local Inland Revenue Enquiry Centre and our contact numbers. Some of the things we provide are wheelchair access to nearly all Inland Revenue Enquiry Centres, please call ahead to check home visits, if you cannot get to one of our Enquiry Centres leaflets in large print, Braille and audio for people with hearing difficulties BT s Typetalk induction loops sign language interpretation help with filling in forms foreign language interpreters. 5

8 Case studies Helping someone to get their interest tax-free and to claim tax back See page 2 for details. Anna is 86 years old. She receives state pension of 120 a week and interest of about 80 a year on her savings. Because Anna s income is less than her tax free income she is not a taxpayer, but because she did not know she could receive interest without tax taken off she has never completed a form Getting your interest without tax taken off (R85) and given it to her building society. This means she has paid tax on the interest she received. The building society interest Anna should have received is 100 but the building society took off 20 in tax and paid it to the Inland Revenue. Anna s home help realised Anna should not be paying tax and rang the R85 Helpline to request a large print version of the form. The Helpline also suggested Anna might be able to claim tax back for the past 6 years and sent Anna large print versions of the claim form R40. Anna, with her home help s assistance, completed the forms and claimed back 140. Children over 16 and students See page 3 for details. Toby is 22 and training to become a nurse. He receives a bursary and earns about 50 a week working in a restaurant. The bursary is tax-free and is paid directly into his building society account. Toby receives about 100 a year in interest from this money being in his account. Because his total taxable income is about 2,700 a year Toby has completed a form Getting your interest without tax taken off (R85) and given it to his building society. If he hadn t done this, he would have only received 80 a year in interest. Tax Credits and interest without tax taken off See page 9 for details. Lisa is married with two young children. She earns about 40 a week working in a nursing home. She also receives Child Tax Credit and Child Benefit, which are both paid directly into a bank account in her name. The interest on this bank account is about 50 a year and it doesn t have any tax taken off because Lisa completed a form Getting your interest without tax taken off (R85) and gave it to her bank. Lisa knew she could do this because neither Child Tax Credit nor Child Benefit are taxable and her earnings and interest add up to about 2,130 a year, which is less than her tax-free amount. 6

9 Helpsheet for Form R85(2004 New) The law allows everyone who lives in the UK to receive some income, at least 91 a week, before tax has to be paid. If your income is below that limit and you ve got some money in a bank or building society you will be paying tax on your interest, when you don t have to. If you live in the UK, use the notes on pages 8-10 to see if you should be filling in the form Getting your interest without tax taken off (R85). If you need help, please phone the Helpline on People living abroad web address and phone numbers are on page 1. If you don t live in the UK, year on year, please phone the Helpline. If you call from the UK, calls are charged at local rates. Please don t ask your bank or building society for advice it s the Inland Revenue s job to help you fill in this Helpsheet, not theirs. 7

10 Helpsheet continued Helpline (local rates). First, pick your age from the table below and see how much income you can have a year, or a week, without paying tax. If you look after an account for someone else, say for a child under 16 (a saver under 16 cannot sign the form) or someone who can t manage their own money themselves, use their details. Tax free income Your age by 5 April 2005 Annual limit Weekly limit Under to over From the table above, enter your annual tax free income in box 1. Box 1 2 If you are a married man and you or your wife were born before 6 April 1935, enter 3735 in box 2. If you are a married woman and either of you were born before 6 April 1935 and your husband has less income than you please phone the Helpline. Box 2 3 If you are registered blind with your local authority enter 1560 in box 3. If you live in Scotland or Northern Ireland your local authority may not keep a register, if they do not please phone the Helpline. And if you are married and your husband or wife is registered blind and has less income than you, please phone the Helpline. Box 3 4 Add up boxes 1,2 and 3 and put the total tax free income in box 4. Box 4 8

11 Helpsheet continued Helpline (local rates). Next, work out your annual income. If you need help with what counts as income, ring the Helpline. If you want to check if your National Savings and Investments income should be included, either ring the Helpline or go to State pension the weekly entitlement x 52 (Do not include any Pension Credit) Other pensions, for example, from a previous employer Pay from employment, or profits from working for yourself Jobseeker s allowance and taxable incapacity benefit. (Do not include Working Tax Credit, Child Tax Credit, or social security benefits such as Child Benefit or Attendance Allowance) Interest from banks and building societies include the amount before tax was taken off (the gross amount). If you have a joint account just include your share. (Do not include any ISA interest) Company dividends and any other income you think may be taxable, for example, rents you receive. (Do not include Student Loans) Total Box 5 Now, is the figure in box 5 less than the figure in box 4? Yes No 9

12 Helpsheet continued Helpline (local rates). If Yes you should complete the form Getting your interest without tax taken off (R85). Your interest will then be paid to you without tax being taken off it first. Keep this Helpsheet for your records. Do not give it to the bank or building society with your completed form R85. If No please do not fill in the form. If you do fill in the form, then you are telling your bank or building society that you don t have to pay tax. It s not the bank or building society s responsibility to check this (but the Inland Revenue may, at a later date). For new accounts you will need to fill in a new form R85. If your income goes up, so you should start paying tax, please tell each of your banks or building societies. Your bank or building society may be able to repay any tax they have already taken off your interest in this tax year (from 6 April 2004 to 5 April 2005). If you have paid tax on your interest in the past, but now think perhaps you should not have done, please ring the Helpline or look under Inland Revenue in the phone book to find your nearest Inland Revenue Enquiry Centre, or go to to see if you can get some tax back. If you have difficulties signing or making a mark on the form R85, please call our Helpline on The Helpsheet and form R85 are available in large print and Braille please call our Helpline. 10

13

14

15

16 These notes are for guidance only and reflect the position at the time of writing. They do not affect any right of appeal. Issued by Inland Revenue Marketing and Communications July 2004 Crown Copyright 2004 Printed by The Astron Group 07/04 NSV Code R2P 3332

Approaching retirement

Approaching retirement A guide to tax and National Insurance contributions IR121 Contents Introduction Retiring early National Insurance contributions 1 Get a state pension forecast 2 Income tax 2 Claiming your State Pension

More information

Approaching retirement A guide to tax and National Insurance contributions IR121

Approaching retirement A guide to tax and National Insurance contributions IR121 A guide to tax and National Insurance contributions IR121 Contents Introduction Retiring early National Insurance contributions 1 Get a state pension forecast 1 Income tax 2 Claiming your State pension

More information

A guide to tax and National Insurance contributions IR121

A guide to tax and National Insurance contributions IR121 A guide to tax and National Insurance contributions IR121 Contents Introduction 3 Retiring early 3 National Insurance contributions 3 Get a State Pension forecast 4 Income Tax 4 Claiming your State Pension

More information

What happens if we have paid you too much tax credit?

What happens if we have paid you too much tax credit? What happens if we have paid you too much tax credit? COP26 CODE OF PRACTICE Contents How we work out your tax credit 1 Adjusting awards during the year 2 Stopping awards 3 Finalising awards at the end

More information

Clubs and Charities Series IR64. Giving to charity by businesses

Clubs and Charities Series IR64. Giving to charity by businesses Clubs and Charities Series IR64 Giving to charity by businesses We produce a wide range of leaflets, booklets and Helpsheets, each designed to explain different aspects of your tax or National Insurance

More information

Understanding tax. A guide to putting your tax matters in order 2015-16

Understanding tax. A guide to putting your tax matters in order 2015-16 A guide to putting your tax matters in order 2015-16 Introduction If you re ill or caring for someone who is, you may need to put your financial matters in order. This booklet explains how to handle your

More information

Sorting out your estate before you die

Sorting out your estate before you die Sorting out your estate before you die This information is an extract from the booklet Sorting out your affairs, which is part of the financial guidance series. You may find the full booklet helpful. We

More information

Deferring your State Pension

Deferring your State Pension Deferring your State Pension October 2014 2 Contents 4 Introduction 5 When can I get my State Pension? 6 Putting off claiming your State Pension 8 What are my choices? 9 How much more money could I get?

More information

What happens if we ve paid you too much tax credits

What happens if we ve paid you too much tax credits What happens if we ve paid you too much tax credits Code of Practice COP26 Contents Introduction 1 Mandatory reconsideration 1 When you should dispute an overpayment 2 How we work out the amount of your

More information

State Pension Deferral your guide

State Pension Deferral your guide State Pension Deferral your guide May 2008 Part of the Department for Work and Pensions Contents Introduction.................................. Page 6 Pensions...................................... Page

More information

A If you need any supplementary pages and notes to

A If you need any supplementary pages and notes to What makes up your tax return We have sent you a tax return that we think matches your personal circumstances. But you need to make sure the form has all the relevant supplementary pages. Please read the

More information

An introduction WTC1

An introduction WTC1 Child Tax Credit and Working Tax Credit An introduction WTC1 Contents Introduction Who can claim? 1 Child Tax Credit Can I claim? 3 How much can I claim? 4 What if I have a new baby? 5 How do you pay Child

More information

Inheritance tax Lifetime gifts

Inheritance tax Lifetime gifts Inheritance tax Lifetime gifts CAPITAL TAXES IHT2 Contents Introduction 1 Some general terms and ideas 3 Rates of charge 5 Gifts that are liable to inheritance tax 6 Gifts that are exempt from inheritance

More information

Inheritance tax Foreign aspects

Inheritance tax Foreign aspects Inheritance tax Foreign aspects CAPITAL TAXES IHT18 Contents Introduction 1 Domicile 3 Taxable property 5 Settled property 6 Excluded and exempt property 7 Double taxation conventions (DTCs) 9 Further

More information

WTC5 Child Tax Credit and Working Tax Credit Help with the costs of childcare

WTC5 Child Tax Credit and Working Tax Credit Help with the costs of childcare WTC5 Child Tax Credit and Working Tax Credit Help with the costs of childcare Information for parents and childcare providers 1 Contents Introduction Child Tax Credit Working Tax Credit The childcare element

More information

Pension Credit Do I qualify and how much could I get? April 2012

Pension Credit Do I qualify and how much could I get? April 2012 Pension Credit Do I qualify and how much could I get? April 2012 Contents 3 What is? 3 When can I apply? 6 for couples 7 How we work out the amount you could get 9 How much could I get? 10 Quick calculator

More information

We re here to help. Support during a bereavement. Print-friendly brochure

We re here to help. Support during a bereavement. Print-friendly brochure Support during a bereavement Print-friendly brochure We re here to help A step-by-step guide to help you handle a deceased person s savings and investments with NS&I This document has been downloaded from,

More information

The Social Fund. Part of the Department for Work and Pensions

The Social Fund. Part of the Department for Work and Pensions The Social Fund Part of the Department for Work and Pensions What is the Social Fund? If you are on a low income and faced with costs that are difficult to pay for out of your normal income, the Social

More information

What is the purpose of the Grant of Representation?

What is the purpose of the Grant of Representation? PA2 How to obtain probate - A guide for people acting without a solicitor What is the Probate Service? The Probate Service is part of HM Courts & Tribunals Service. It administers the system of probate,

More information

Accrued Income Scheme

Accrued Income Scheme Helpsheet 343 Tax year 6 April 2013 to 5 April 2014 Accrued Income Scheme A Contacts This helpsheet will help you decide whether the Accrued Income Scheme applies, and if so, how to work out your accrued

More information

Notes for completing form R40

Notes for completing form R40 Please fill in this form with details of your income for the above tax year The enclosed R40 Notes will help you (but there is not a note for every box on the form) If you need more help with anything

More information

Your rights and entitlements How to get the support you need if you have a hearing loss CONFUSED BY BENEFITS

Your rights and entitlements How to get the support you need if you have a hearing loss CONFUSED BY BENEFITS Your rights and entitlements How to get the support you need if you have a hearing loss CONFUSED BY BENEFITS In this leaflet we tell you how to get the benefits, equipment and services you re entitled

More information

How we work out child maintenance. A step-by-step guide

How we work out child maintenance. A step-by-step guide How we work out child maintenance A step-by-step guide About this leaflet This leaflet explains how the Child Maintenance Service works out child maintenance. It tells you the information we use and the

More information

Incapacity Benefit. Help if you re too ill or disabled to work. Part of the Department for Work and Pensions

Incapacity Benefit. Help if you re too ill or disabled to work. Part of the Department for Work and Pensions Incapacity Benefit Help if you re too ill or disabled to work Part of the Department for Work and Pensions Are you too sick or disabled to work? If the answer is yes, you should read this leaflet. It will

More information

Notes for completing form R40

Notes for completing form R40 l Notes for completing form R40 Introduction If you need help, please phone us on the number on the front of your form R40. Or go to, www.gov.uk To download notes and helpsheets go to, www.gov.uk or you

More information

STEp-BY-stEP. GUIdE to MAKING A. WIlL

STEp-BY-stEP. GUIdE to MAKING A. WIlL YOUR STEp-BY-stEP GUIdE to MAKING A WIlL This is part of a series of leaflets about making a will, leaving a legacy and inheritance planning. The other leaflets in the series are: Charitable legacies and

More information

You can find up to date information on GOV.UK. This leaflet is no longer current. Having a baby. April 2014

You can find up to date information on GOV.UK. This leaflet is no longer current. Having a baby. April 2014 Having a baby April 2014 Introduction This leaflet is for parents who are expecting or have recently had a baby, or who are adopting a baby or young child. You should find it useful if this is your first

More information

Claim for repayment of tax deducted from savings and investments. How to fill in this form. Year to: Personal details. Your reference Tax reference

Claim for repayment of tax deducted from savings and investments. How to fill in this form. Year to: Personal details. Your reference Tax reference Claim for repayment of tax deducted from savings and investments If not already shown, please enter your name and address in this box to make sure that we can deal with your claim Your reference Tax reference

More information

Working Tax Credit Help with the costs of childcare WTC5

Working Tax Credit Help with the costs of childcare WTC5 Working Tax Credit Help with the costs of childcare Find out how tax credits can help with the costs of childcare WTC5 Help If you need any help please: go to www.hmrc.gov.uk/taxcredits or phone our Helpline

More information

You and your joint account

You and your joint account You and your joint account A guide for customers Cover image: HD Connelly, 2010 Used under license from Shutterstock.com. How can this leaflet help me? This document will help if you currently hold or

More information

Getting your tax credits claim form right. Use these Notes to help you

Getting your tax credits claim form right. Use these Notes to help you Getting your tax credits claim form right Use these Notes to help you TC600 Notes for use from 6 April 2012 You must claim as a couple if you are married, or in a civil partnership. If you are legally

More information

Funeral Benefit from the DSS

Funeral Benefit from the DSS Funeral Benefit from the DSS The state offers a specific benefit towards the cost of a funeral, for those people that it deems most need it. The qualification is strict but a successful application can

More information

The figures in this factsheet are correct for the 2015/16 tax year, which runs from 6 April 2015 to 5 April 2016.

The figures in this factsheet are correct for the 2015/16 tax year, which runs from 6 April 2015 to 5 April 2016. Factsheet 15 April 2015 Inside this factsheet basic information about for older people tax rates types of taxable income types of non-taxable income tax allowances examples of how tax bills are worked

More information

Letters of administration (usually when there is no valid will).

Letters of administration (usually when there is no valid will). The Probate Service What is probate? When a person dies somebody has to deal with their estate (money property and possessions left) by collecting in all the money, paying any debts and distributing what

More information

ILF user guide. A guide to maintaining your ILF award until March 2015

ILF user guide. A guide to maintaining your ILF award until March 2015 ILF user guide A guide to maintaining your ILF award until March 2015 Contents Introduction 3 Getting and using your ILF award Conditions 4 Getting your money 4 Managing your money 4 What can I spend my

More information

Medical Assistance ESTATE RECOVERY PROGRAM. Questions and Answers

Medical Assistance ESTATE RECOVERY PROGRAM. Questions and Answers Medical Assistance ESTATE RECOVERY PROGRAM Questions and Answers 1. What is the Medical Assistance Estate Recovery Program? Established under federal law, this program requires the Department of Public

More information

Volunteering. while getting benefits. Part of the Department for Work and Pensions

Volunteering. while getting benefits. Part of the Department for Work and Pensions Volunteering while getting benefits Part of the Department for Work and Pensions This leaflet is only a guide and does not cover every circumstance. We have done our best to make sure the leaflet is correct

More information

Small pension taken as a lump sum: repayment claim

Small pension taken as a lump sum: repayment claim Small pension taken as a lump sum: repayment claim About this form Use this form to claim back any tax we owe you on a small pension lump sum payment that you recently received. If you are not a UK resident

More information

A brief guide to Trusts and our Trustbuilder tool

A brief guide to Trusts and our Trustbuilder tool guide to guide to trusts trusts A brief guide to Trusts and our Trustbuilder tool A Brief guide to Trusts and our Trustbuilder tool Introduction This brief guide explains some of the main features and

More information

Savings account conditions and information.

Savings account conditions and information. Savings Savings account conditions and information. (For personal savings accounts that are no longer available to new customers.) page heading 1 Savings account Conditions. This booklet contains the conditions

More information

Claim form for Housing Benefit and Council Tax Reduction

Claim form for Housing Benefit and Council Tax Reduction Claim form for Housing Benefit and Council Tax Reduction If you are just claiming Second Adult Rebate, only fill in Parts 1, 3 and 15 of this form and tick this box. Part 1 About you and your partner Do

More information

Income Support and Jobseeker s Allowance

Income Support and Jobseeker s Allowance Information sheet Income Support and Jobseeker s Allowance Living together as husband and wife or as civil partners Please read these notes carefully. They contain information about living together as

More information

Issue address. For Reference

Issue address. For Reference Tax Return 2016 Tax year 6 April 2015 to 5 April 2016 (2015 16) UTR NINO Employer reference Issue address Date HM Revenue & Customs office address Telephone Your tax return This notice requires you, by

More information

What is the purpose of the grant of representation?

What is the purpose of the grant of representation? PA2 How to obtain probate - A guide for people acting without a solicitor What is the Probate Service? The Probate Service is part of HM Courts & Tribunals Service. It administers the system of probate

More information

Working Tax Credit Help with the costs of childcare WTC5

Working Tax Credit Help with the costs of childcare WTC5 Working Tax Credit Help with the costs of childcare Find out how tax credits can help with the costs of childcare WTC5 Help If you need any help please: go to www.hmrc.gov.uk/taxcredits or phone our Helpline

More information

Claiming as a couple. If you don t know what to put for an answer

Claiming as a couple. If you don t know what to put for an answer Getting your tax credits claim form right Use these Notes to help you TC600 Notes for use from 6 April 2015 Claiming as a couple You must claim as a couple if you are married, living with someone as if

More information

Our House. How to place a property in trust for someone with a learning disability. Trust Company

Our House. How to place a property in trust for someone with a learning disability. Trust Company Our House How to place a property in trust for someone with a learning disability Trust Company Mencap Trust Company Limited and Golden Lane Housing are working together to provide a service that helps

More information

Important information to include on your tax return before sending it to us. Issue address. Tax year 6 April 2015 to 5 April 2016 (2015 16)

Important information to include on your tax return before sending it to us. Issue address. Tax year 6 April 2015 to 5 April 2016 (2015 16) Important information to include on your tax return before sending it to us. Please make sure you include your: 10 digit Unique Taxpayer Reference (UTR) National Insurance number (NINO) employer reference

More information

Notes to help you fill in form IHT205(2011)

Notes to help you fill in form IHT205(2011) Notes to help you fill in form IHT205(2011) These notes only apply when the deceased died on or after 6 April 2011 and you are filling in form IHT205(2011) Return of estate information. If the deceased

More information

Employment and Support Allowance

Employment and Support Allowance Employment and Support Allowance Help if you are ill or disabled Contents 3 About Employment and Support Allowance 4 Who can get Employment and Support Allowance 6 What happens when I claim? 7 Helping

More information

Triodos Bank. Setting up an account for a child.

Triodos Bank. Setting up an account for a child. Triodos Bank. Setting up an account for a child. Setting up an account for a child A Triodos Right Start Saver account can be set up in three different ways, depending on who is to have authority to operate

More information

This factsheet will use the term ISA to refer to both ISAs and NISAs.

This factsheet will use the term ISA to refer to both ISAs and NISAs. PUBLISHED November 2015 FACTSHEET Individual Savings Accounts, incorporating New ISAs On the 1 st July 2014 there were some significant changes to Individual Savings Accounts (ISAs) and the subscription

More information

Tax guide. Money matters. Make sure you re paying the right amount. AgeUKIG16

Tax guide. Money matters. Make sure you re paying the right amount. AgeUKIG16 Tax guide Make sure you re paying the right amount Money matters AgeUKIG16 We are Age UK. Our network includes Age Cymru, Age NI, Age Scotland, Age International and more than 160 local partners. This

More information

Use these notes to help you fill in your tax return

Use these notes to help you fill in your tax return Tax Return notes Tax year 6 April 2014 to 5 April 2015 (2014 15) Use these notes to help you fill in your tax return These notes will help you to fill in your paper tax return. Alternatively, why not complete

More information

HALIFAX CASH ISA. Conditions and information

HALIFAX CASH ISA. Conditions and information HALIFAX CASH ISA. Conditions and information Welcome to Halifax 3 Section 1 How these conditions work 5 Section 2 Special Conditions 7 ISA Saver Variable 12 ISA Saver Online 13 ISA Saver Fixed 14 Junior

More information

Find out how tax credits can help with the costs of childcare WTC5

Find out how tax credits can help with the costs of childcare WTC5 Working Tax Credit Help with the costs of childcare Find out how tax credits can help with the costs of childcare WTC5 Help If you need any help please: go to www.hmrc.gov.uk/taxcredits or phone our helpline

More information

You can find up to date information on GOV.UK. This leaflet is no longer current. Income Support. Help if you re on a low income

You can find up to date information on GOV.UK. This leaflet is no longer current. Income Support. Help if you re on a low income Income Support Help if you re on a low income Contents 3 About Income Support 4 Who can get Income Support? 6 Where you live 6 If you re working 8 How to claim 9 Other help you may get 14 Changes in your

More information

Important information to include on your tax return before sending it to us.

Important information to include on your tax return before sending it to us. Important information to include on your tax return before sending it to us. Please make sure you include your: 10 digit Unique Taxpayer Reference (UTR) National Insurance number (NINO) employer reference

More information

What happens if a paying parent doesn t pay child maintenance? A guide for receiving parents

What happens if a paying parent doesn t pay child maintenance? A guide for receiving parents What happens if a paying parent doesn t pay child maintenance? A guide for receiving parents About this leaflet This leaflet explains the actions that we can take if a paying parent doesn t pay child maintenance.

More information

How to obtain probate - A guide for the applicant acting without a solicitor

How to obtain probate - A guide for the applicant acting without a solicitor PA2 How to obtain probate - A guide for the applicant acting without a solicitor If you make a personal application for a Grant of Probate you will be required to attend an appointment at one of our interview

More information

FSA Factsheet Retiring soon what you need to do about your pensions

FSA Factsheet Retiring soon what you need to do about your pensions October 2005 FSA Factsheet Retiring soon what you need to do about your pensions Financial Services Authority This factsheet is for you if: you re planning to retire soon, or you want to plan ahead; and

More information

Who is eligible for the State Pension, a contribution based benefit for people of State Pension age

Who is eligible for the State Pension, a contribution based benefit for people of State Pension age Factsheet 19 April 2015 Inside this factsheet Who is eligible for the, a contribution based benefit for people of age Information about the current ages 65 for men and 62 ½ for women How to claim Information

More information

TAX FACTS 2016/2017. Tax is complicated, so you need the facts

TAX FACTS 2016/2017. Tax is complicated, so you need the facts TAX FACTS 2016/2017 Tax is complicated, so you need the facts INCOME TAX RATES 2015/16 Band 2016/17 Band Basic rate: 20% 0 31,785 Basic rate: 20% 0 32,000 Higher rate: 40% Additional rate: 45% 31,786 150,000

More information

THOSE BORN 6 APRIL 1938 OR AFTER

THOSE BORN 6 APRIL 1938 OR AFTER TAX RATES 2015-16 Income tax allowances and bands Please note it is taxable income which applies in this assessment, including earnings, pensions in payment, cash interest, fixed interest income, dividends

More information

The starting rate of tax for savings. Bulletin and FAQs 19 March 2014

The starting rate of tax for savings. Bulletin and FAQs 19 March 2014 The starting rate of tax for savings. Bulletin and FAQs 19 March 2014 1 Changes announced at Budget 2014: Summary of changes Starting Rate for Savings from 6 April 2015 As announced by the Chancellor at

More information

What happens if you don t pay child maintenance? A guide for paying parents

What happens if you don t pay child maintenance? A guide for paying parents What happens if you don t pay child maintenance? A guide for paying parents About this leaflet This leaflet explains the actions that we can take if you don t pay child maintenance. It is about child maintenance

More information

Working Tax Credit Help with the costs of childcare WTC5

Working Tax Credit Help with the costs of childcare WTC5 Working Tax Credit Help with the costs of childcare WTC5 Help If you need any help: go to www.gov.uk/browse/benefits/tax-credits phone the Tax Credit Helpline on 0345 300 3900 textphone the Tax Credit

More information

Student loans A guide to terms and conditions 2014/15

Student loans A guide to terms and conditions 2014/15 Student loans A guide to terms and conditions 2014/15 sound advice on STUDENT FINANCE For more information and to apply visit www.studentfinancewales.co.uk SFW/SLTC/V14/D CONTENTS SECTION 1 What this guide

More information

Important information to include on your tax return before sending it to us.

Important information to include on your tax return before sending it to us. Important information to include on your tax return before sending it to us. Please make sure you include your: 10 digit Unique Taxpayer Reference (UTR) National Insurance number (NINO) employer reference

More information

Benefits and services for deaf and hard of hearing people

Benefits and services for deaf and hard of hearing people Benefits and services for deaf and hard of hearing people 2 About this leaflet This leaflet is written for deaf people who would like to find out about benefits and services. We use the term deaf people

More information

Trusts and settlements income treated as the settlor s

Trusts and settlements income treated as the settlor s Helpsheet 270 Tax year 6 April 2013 to 5 April 2014 Trusts and settlements income treated as the settlor s A Contacts Please phone: the number printed on page TR 1 of your tax return the SA Helpline on

More information

Step-by-Step Guide to Applying for a UK tax refund

Step-by-Step Guide to Applying for a UK tax refund STEP-BY-STEP TAX REFUND GUIDE Step-by-Step Guide to Applying for a UK tax refund If you have left the UK to travel or emigrate for an extended period of time, it s likely you have overpaid tax. In many

More information

Student Loans - A guide to terms and conditions 2015/16. www.gov.uk/studentfinance

Student Loans - A guide to terms and conditions 2015/16. www.gov.uk/studentfinance Student Loans - A guide to terms and conditions 2015/16 www.gov.uk/studentfinance Contents 1 What s this guide about? 2 2 Your loan contract 2 3 Who does what? 3 4 Your responsibilities 4 5 Which Repayment

More information

Guide to completing your Inheritance Tax account

Guide to completing your Inheritance Tax account Guide to completing your Inheritance Tax account This guide will help you to: fill in the forms you need to complete your Inheritance Tax account follow the correct procedure to apply for a grant of probate

More information

A Guide to Leaving an Amazing Gift Guide to Leaving an Amazing Gift January 2013

A Guide to Leaving an Amazing Gift Guide to Leaving an Amazing Gift January 2013 Reg. Charity No: 266071 A Guide to Leaving an Amazing Gift A Guide to Making a Will Introduction This booklet is a general publication giving information about the issues you should consider before making

More information

Helping you through. Administration of Estates & Grants of Probate

Helping you through. Administration of Estates & Grants of Probate Helping you through Administration of Estates & Grants of Probate Purdys Solicitors 26 Pepperslade Near Duxford Cambridge CB22 4XT Telephone: 01223 834655 www.purdys-solicitors.co.uk What to do when someone

More information

We hope you will find this guide useful, but if there is anything you do not understand, or if you need help with your claim, please contact us

We hope you will find this guide useful, but if there is anything you do not understand, or if you need help with your claim, please contact us LYNCH WOOD PARK LYNCH WOOD PETERBOROUGH PE2 6FY WWW.PHOENIXLIFE.CO.UK CLAIM GUIDE When somebody close to you has died and you need to deal with an insurance company, the last thing you need is to be faced

More information

STUDENT LOANS - A GUIDE TO TERMS AND CONDITIONS 2014/15

STUDENT LOANS - A GUIDE TO TERMS AND CONDITIONS 2014/15 STUDENT LOANS - A GUIDE TO TERMS AND CONDITIONS 2014/15 CONTENTS SECTION 1 - WhaT ThIS guide IS about SECTION 2 - YOuR LOaN CONTRaCT SECTION 3 - WhO does WhaT? If you still have questions about the terms

More information

Note 1. Name of company in which these shares/stock are held. Note 2

Note 1. Name of company in which these shares/stock are held. Note 2 V25 21 May 2012 Note 1 Equiniti Limited Aspect House Spencer Road Lancing West Sussex BN99 6DA Guidance Notes for the completion of a Stock Transfer form by shareholders. To be read in conjunction with

More information

Personal Taxpayer Series CGT1. Capital Gains Tax. An introduction

Personal Taxpayer Series CGT1. Capital Gains Tax. An introduction Personal Taxpayer Series CGT1 Capital Gains Tax An introduction We produce a wide range of leaflets. Some we have mentioned which you might find useful are COP1 IR20 Putting things right. How to complain

More information

Anne L. Hawkins FCCA MBA

Anne L. Hawkins FCCA MBA Anne L. Hawkins FCCA MBA Factsheet No 11 Inheritance Tax 1. Overview Inheritance Tax is paid if a person s estate (their property, money and possessions) is worth more than 325,000 when they die. This

More information

court fees do you have to pay them? Some people do not have to pay a court fee, by law

court fees do you have to pay them? Some people do not have to pay a court fee, by law court fees do you have to pay them? Some people do not have to pay a court fee, by law Other people may not have to pay a court fee, or they may pay a smaller fee EX160A Court Fees do you have to pay them?

More information

Are you looking after a child or young person who has: learning difficulties communication needs behaviour needs physical disabilities mental

Are you looking after a child or young person who has: learning difficulties communication needs behaviour needs physical disabilities mental Are you looking after a child or young person who has: learning difficulties communication needs behaviour needs physical disabilities mental ill-health or is long term sick? Then do you know about the

More information

Claiming Child Benefit

Claiming Child Benefit Claiming Child Benefit Notes and claim form. Child Benefit can only be backdated 3 months. If you wait to claim, you could lose money. CHILD BENEFIT NOTES (NET) CH2 NOTES (2005) For use from October 2005

More information

Questions. about your Simple Payment card

Questions. about your Simple Payment card Questions about your Simple Payment card 1. What is Simple Payment? Simple Payment is a service delivered jointly by the government, Citibank and PayPoint. 2. What is a Simple Payment card? Normally the

More information

CONTENTS. Introduction 4 What is Student Finance England? 4 What is student finance? 4 What is this guide about? 4 Who is this guide for?

CONTENTS. Introduction 4 What is Student Finance England? 4 What is student finance? 4 What is this guide about? 4 Who is this guide for? Childcare Grant and other support for full-time student parents in higher education 2010/2011 CONTENTS Introduction 4 What is Student Finance England? 4 What is student finance? 4 What is this guide about?

More information

WHY MAKE A TRUST? England & Wales. www.step.org

WHY MAKE A TRUST? England & Wales. www.step.org WHY MAKE A TRUST? England & Wales www.step.org 1 WHAT IS A TRUST? Trusts have been used by families for centuries. A trust is the formal transfer of assets (it might be property, shares or just cash) to

More information

Employed or self-employed?

Employed or self-employed? Employed or self-employed? A guide to employment status for tax and National Insurance contributions BUSINESS SERIES IR56 Contents Introduction 1 Determining employment status 2 Special rules 4 5 Tax and

More information

Understanding trusts. Your easy to follow guide

Understanding trusts. Your easy to follow guide Understanding trusts Your easy to follow guide Understanding trusts: Your easy to follow guide Important note The information in this guide is based on our understanding of current legislation and HM Revenue

More information

How to be an executor

How to be an executor How to be an executor What to expect and key responsibilities Money matters AgeUKIL8 Information and advice you need to help you love later life. We re Age UK and our goal is to enable older people to

More information

CTC is payable to individuals who are responsible for a child or qualifying young person.

CTC is payable to individuals who are responsible for a child or qualifying young person. Introduction Child tax credit (CTC) and working tax credit (WTC) form a single system of support for people with children, whether or not working, and people in work, whether or not they have children.

More information

A guide to financial support for full-time students in higher education 2014/15

A guide to financial support for full-time students in higher education 2014/15 A guide to financial support for full-time students in higher education 2014/15 CONTENTS WHAT IS STUDENT FINANCE? 1 DO I QUALIFY? 2 WHAT CAN I GET? 4 ADDITIONAL OR SUPPLEMENTARY SUPPORT 13 HOW DO I APPLY?

More information

INHERITANCE TAX: THE FACTS

INHERITANCE TAX: THE FACTS INHERITANCE TAX: THE FACTS INHERITANCE TAX IT PAYS TO PLAN AHEAD I M NOT RICH ENOUGH TO WORRY ABOUT INHERITANCE TAX I NEED MONEY TO LOOK AFTER MYSELF IN MY OLD AGE I LL DO SOMETHING ABOUT IT LATER THESE

More information

European Economic Area

European Economic Area SA29 from February 2003 Your social security insurance, benefits and healthcare rights in the European Economic Area Your social security insurance, benefits and healthcare rights in the European Economic

More information

Extra help - Dependants' Grants

Extra help - Dependants' Grants Extra help - Dependants' Grants 2015/16 www.gov.uk/studentfinance What is Student Finance England? Contents Student Finance England is a service provided by the Student Loans Company. We provide financial

More information

Deferred Payments. A guide to. Paying for residential care if you own your home

Deferred Payments. A guide to. Paying for residential care if you own your home Deferred Payments A guide to Paying for residential care if you own your home What is the deferred payment scheme? If you are a home owner moving to residential care this scheme is designed to assist you

More information

IB1 from April 2005. A guide to. Incapacity Benefit Information for new customers

IB1 from April 2005. A guide to. Incapacity Benefit Information for new customers IB1 from April 2005 A guide to Incapacity Benefit Information for new customers Contents Contents Terminology 5 About this guide 8 This guide and the law 8 Great Britain and the United Kingdom 8 Introduction

More information

The Personal Range Key Features of the Individual Personal Pension Transfer Value Account

The Personal Range Key Features of the Individual Personal Pension Transfer Value Account The Personal Range Key Features of the Individual Personal Pension Transfer Value Account Reference MPEN11/F 07.15 The Financial Conduct Authority is a financial services regulator. It requires us, Friends

More information

An introduction WTC1

An introduction WTC1 Child Tax Credit and Working Tax Credit An introduction WTC1 Contents Introduction Who can claim 1 Child Tax Credit Who can claim 3 Full-time, non-advanced education 4 Approved training 4 How much you

More information

Introduction. Information on transferring payments to the UK 37. National Insurance Number 46. Jobseekers allowance 52.

Introduction. Information on transferring payments to the UK 37. National Insurance Number 46. Jobseekers allowance 52. Introduction XX Information on transferring payments to the UK 37 National Insurance Number 46 Jobseekers allowance 52 Crisis loans 60 Income support 65 Working Tax Credit 73 Statutory Sick Pay 78 Incapacity

More information