Have just finished work I do not expect to work again this year. My income this tax year is approx 5700.
This means that I still have approx 1000 left of the 10% tax rate band.
The interest on my savings is being taxed at 20%.
Can I have this changed to 10% for the next 1000 of interest ? Or can I claim any tax back from my savings ?
Harry
You will have to claim a refund at the end of the year.
No. 20% is deducted at source. Only non-taxpayer can be paid gross on submitting form R87.
Yes. Get in touch with your tax office and complete form R40. Find details in IR leaflet
Many thanks for the info.
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