UK non-taxpayers - rescue your money!
27 June 2006
UK NON-TAXPAYERS - RESCUE YOUR MONEY!
Fill out an R85 form and you could save 51, says IFA Promotion
Just over 6.2 million* non-taxpayers in the UK could save an average of 51 each a staggering total of 319 million by spending just two minutes of their time filling in a simple form, reveals latest research from IFA Promotion, the organisation promoting the benefits of independent financial advice.
The R85 form (which can be downloaded from the ‘Useful Tools’ section on www.taketaxaction.co.uk, and is available from banks, building societies and local IFAs) informs the Inland Revenue of an individual’s ‘non-taxpayer’ status, and enables interest to be paid tax free on funds held in otherwise taxed savings accounts.
David Elms, Chief Executive of IFA Promotion, commented, “Huge amounts of money are being wasted here, and for no good reason. Getting hold of an R85 form is easy and simple, and filling it out takes no time at all. No one likes giving their money away, least of all to the taxman, but by failing to fill in the R85 form, millions of people are doing exactly that.”
“If you’re a non-taxpayer and haven’t done so already, then just visit www.taketaxaction.co.uk, pop into your bank or building society or visit your local IFA and fill in an R85 form it’s as simple as that.”
For more tips on reducing tax wastage and a copy of the R85 form, people can visit IFA Promotion’s dedicated website at www.taketaxaction.co.uk. The site also has an online tax waste calculator and a guide to saving tax. People can also find details of local tax planning IFAs on the site or by calling 0800 085 3250.
-ends-
For further information please contact:
David Elms Chloe Merriman/Holly Godden
Chief Executive Lansons Communications
IFA Promotion 020 7294 3681 / 020 7294 3674
020 7833 3131
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* TaxAction 2006 was produced for IFA Promotion by RAKM, and is partly based on a specially commissioned analysis of Inland Revenue data, combined with other sources such as the Family Resource Survey.
For expert comment or case studies from over 200 media-friendly IFAs, journalists should call IFA Promotion’s Media Services hotline on
020 7294 3682 or search online in ‘Media’ at www.unbiased.co.uk
1. Independent Financial Adviser Promotion
IFA Promotion was established in 1989 to promote the value and accessibility of independent financial advice to the public. It represents around 9,000 firms of independent financial advisers across the UK and is sponsored by 31 leading financial institutions. In the past 12 months, over 530,000 consumers and businesses used IFA Promotion to find local independent financial advice.
IFA Promotion believes Independent financial advice should be:
Affordable. The option to take independent financial advice should be available, by right, to all- not just the wealthiest in society.
Convenient. IFAs should be available in the location of the consumer’s choice, wherever they live in the UK.
Transparent. It must be clearly transparent to consumers who is able to offer independent financial advice and who is not.
2. Independent Financial Adviser Promotion’s sponsors
Aberdeen Asset Management | Mortgage Express |
Abbey | National Savings & Investments |
AXA Life | NatWest Business Banking |
Bright Grey | New Star Investment Funds |
BUPA Health Services | Norwich Union Life |
Canada Life Ltd | Prudential |
The Children’s Mutual | Scottish Equitable Plc |
Clerical Medical Investment | Scottish Life |
Defaqto | Scottish Life International |
Friends Provident | Scottish Widows Plc |
GE Life | Skandia UK Group |
GMAC Residential Funding | Standard Life Assurance Company |
INVESCO Fund Managers Ltd | Unum Provident |
Legal & General | Webline Limited |
London Mortgage Company | Zurich Intermediary Group |
Lincoln Financial Group |
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