Building societies and banks (and other deposit-takers) are required by law to deduct income tax at 20 per cent from the interest they pay to savers. They then pay over this tax to the Inland Revenue.
Some savers may be able to claim back from the Inland Revenue all the tax deducted from their interest, because they are not due to pay any tax. Other savers may be able to claim back some of the tax deducted, because the amount taken off their interest is more than they are due to pay.
Savers who think their taxable income will probably be less than the amount they can have before they start to pay tax can register to receive their interest in future without tax deducted. This is called receiving interest 'gross'.
Before filling in the relevant form it is important to read the related material. Much of it is available on the ‘Taxback’ page below. The ‘Frequently asked questions about claiming’ will provide additional answers.
When you are ready to complete the R85 form, click on the first link below. Form R85 is available in English and Welsh in PDF format. To access the form you will need a copy of Adobe Reader. Information on how to download this for free is available on the right panel of this page.