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tax being decuted on savings

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Steph92 | 21:19 Mon 05th Jul 2010 | Personal Finance
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i have a part time job, but am i entitled to the r85 form to prevent tax being taken from my savings?
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Avatar Image Halifaxmum
It depends - if your income is less than the Personal Allowance for your age (6475 for under 65s), you can ask the bank for an R85, complete it and give it back to them and get the interest tax-free. Income includes earnings from employment, interest and pretty much anything else - investments, pensions etc.
08:05 Tue 06th Jul 2010
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