Should I pay tax on savings ?

Lake | 11:12 Tue 21st Aug 2007 | Personal Finance

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Hi, I have been unemployed since August 2006 and do not claim any benefits or earn any money ! Can I receive Gross Interest on my savings. (Not retirement age- in my50's)

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Ethel

Yes you can - you will need to sign a form for the banks and building societies that you have accounts with. Do it ASAP.

You can download the form (R85) here - one for each account:

http://www.direct.gov.uk/en/MoneyTaxAndBenefit s/Taxes/ReclaimingTax/DG_10026651

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