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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3930
Experience:  FCCA FCMA CGMA ACIS
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I HAVE A R40 FORM TO RECLAIM TAX PAYED ON SAVINGS INTEREST

Customer Question

I HAVE A R40 FORM TO RECLAIM TAX PAYED ON SAVINGS INTEREST .ALSO HAD A SMALL PAYOUT ON PPI,ALSO EXPECT INTEREST ON GOVERMENT BOND .DO I NEED TO FILL IN 3 R40 THEIR ISNT ENOUGH ROOM FOR MORE THAN ONE BANK/B.SOCIETY. NONE TAX PAYER
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. You add all interest received from banks etc and enter the total on the R40. PPI pay out is outside the scope of tax although any interest received should be declared. I do hope I have shown you a way forward in this matter.
Customer: replied 1 year ago.

I UNDER STOOD THAT IT WAS RECLAIMABLE THROUGH Q/A ON TAX QUIRIES

Expert:  bigduckontax replied 1 year ago.
HMRC Information at SAIM2105 confirms my advice that PPI interest, usually at 8%, must be declared, not the compensatory element.
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Customer: replied 1 year ago.

ALSO WOULD YOU KNOW ADDRESS FOR TAX FORMS.SOMERSET

Expert:  bigduckontax replied 1 year ago.
The return address for your R40 should be printed on the form. However, HMRC give guidance here: https://www.gov.uk/government/organisations/hm-revenue-customs/contact/r40-where-to-send-repayment-claim-forms Thank you for your support.

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