If you are under 65 and your gross income will be less than £5,435 in the current tax year then you are entitled to claim back the tax which your bank or building society deducts automatically from the interest on your savings. Simply fill in the form and return it to HM Revenue and Customs and also inform your bank or building society to start taking TaxAction now! If you are over 65 the limit is slightly higher – please click here to download a factsheet from HMRC with further information.
Click here to open the R85 form from the Inland Revenue website.