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French Finance
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 15/05/2008, 13:18
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gosub
 
Joined on 15/01/2008
North 47
Posts 310
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 BobDee wrote: | Just off the telephone with Nat west and Nationwide.
I have E savings with both. Natwest say if you want your interest paid gross you will have to close the account.
Nationwide say no problem, just fill in their R85 form. Young lady there said vast numbers of their customers are overseas and get interest paid without tax.
Nationwide win again!
BobD |
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That's strange because I have tried several times to submit an R85 to Nationwide and have always been refused.
An extract from their online banking site, my bold
Helpsheet for Form R85(2007)
This form is for your use. So do not hand it to Nationwide or HM Revenue and Customs
The law allows everyone who lives in the UK to receive some income, at least £100 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 below to see if you should be filling in the attached form
'Getting your interest without tax taken off (form R85)'. If you need help, please phone the HM Revenue
and Customs Helpline on 0845 980 0645. (If you don’t live in the UK, year on year, please phone the
Helpline.) Type Talk is available using prefix number - 18001.
Please don't ask Nationwide for advice – it's the HM Revenue and Customs's job to help you fill in this
Les
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15/05/2008, 17:57
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BobDee
Joined on 17/08/2005
Reaup Lisse 47
Posts 118
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Gs
Think you are right, having spoken to the HMRC help line who say that the R85 does not apply to non UK residents.
It looks as though I have to come down to earth and accept that every year I must claim tax in a proactive way, like asking for it, or does the HMRC system eventually work out that you have overpaid and eventually send you a refund?
Sick and tired of tax matters, and having posted off my forms, I'll try and get on with life.
BobD
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23/05/2008, 9:37
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gosub
Joined on 15/01/2008
North 47
Posts 310
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| BobDee wrote: | Gs
Think you are right, having spoken to the HMRC help line who say that the R85 does not apply to non UK residents.
It looks as though I have to come down to earth and accept that every year I must claim tax in a proactive way, like asking for it, or does the HMRC system eventually work out that you have overpaid and eventually send you a refund?
Sick and tired of tax matters, and having posted off my forms, I'll try and get on with life.
BobD |
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Despite what others on this forum say about claiming tax refunds on building society interest payments. I fill out form R43 and send it off to Nottingham (if it's a joint account you will need separate forms and each claim half the interest paid). It's very simple and the tax is refunded quickly.
Les
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France Forum » Legal and Finan... » French Finance » Is an FD5 a FD5?
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