Check whether your bank / building society interest can be paid without tax taken off
The law allows everyone, who lives in the UK to receive some income, at least £96 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 this checker to see if you should be filling in the form 'Getting your interest without tax taken off' (form R85).
If you need further help, please phone the Bank and Building Society Interest Helpline on 0845 980 0645. The Helpline is open 8.30am to 5.00pm Monday to Thursday and 8.30am to 4.30pm Friday.
If you think you have paid too much tax on your bank or building society interest please call the Helpline. Even if you can’t sign the form R85, because your total income is more than your allowances, you may still be able to claim some tax back if your income is less than £9570.
The allowances shown in the calculation may not be accurate if you are aged
over 65 and your income is more than £20,100. People over the age of
65 are given higher allowances, but the higher allowances reduce if their
income is more than the ‘income limit’. The income limit is £20,100
for the current tax year. But, no matter how large your income, you will still
get the basic personal allowance given to people aged under 65. Ring the Helpline
if you think this applies to you
If you encounter any problems using the calculator please let us know by using our feedback form and selecting 'Feedback about the website' from the list
