The law allows everyone who lives in the UK to receive some income, at least 182 pounds a week, before tax has to be paid.If your income is below that limit and you've got some money in the bank or building society, you will be paying tax on your interest when you don't have to, although chances are if your cash-flow is this low, then you may have no buffer in the bank at all, unless you had a pre-existing nest egg or have a windfall.
If you don't pay any&income tax, you can ask the HMRC to get your income tax not deducted at source in your bank accounts.
You have up to four years after theend of each tax yearto claim tax back. So you have two months left to claim tax back for the tax year 2009–10. The cut-off date for this tax period will be 5 April 2014. Be sure to claim it back if entitled.
You can check out your circumstances via HMRC’s Help-sheet to work out eligibility for tax returnshere.
If you’ve paid tax on your bank or building society interest in the past, but now think you should not have done, you can phone HMRC directly on0845 366 7850– albeit it is best to do this whilst you are able to get on with something else, as you can wait to be answered for up to half an hour whatever their Customer Charter says!
Other Keywords: money; refund; low income