Personal Tax Tip 6 – Did you know that non-taxpayers’ interest can be received gross?

Have you made sure that the non- taxpayers in your family receive their interest gross – i.e. without their bank or building society deducting tax?

Tip: Banks and building societies won’t do this automatically. You need to ask them for form R85, and will need to complete one for each account.

Any questions?

If you would like to arrange a free meeting with a Liverpool accountant to discuss cutting your personal tax bill, either at our office or at your premises, please contact us on 0151 724 3960 or by email at [email protected].

Alternatively, you can use our website contact form.

For tax tips and ideas to boost your profits, please sign up for our email updates.

Added by Jon Davies

Bookmark and Share