HMRC encouraging older savers to claim back overpaid tax
Date posted: 10 Nov 2009
HM Revenue and Customs (HMRC) is set to provide the country''s older savers with the opportunity to gain extra cash, by allowing pensioners to claim back savings interest tax they have overpaid.
The organisation will enable those claiming pensions to apply for tax repayments if their savings account interest has been taxed too much, while also offering them the chance to opt for gross savings interest payments in the future.
HM Revenue and Customs (HMRC) is set to provide the country''s older savers with the opportunity to gain extra cash, by allowing pensioners to claim back savings interest tax they have overpaid.
The organisation will enable those claiming pensions to apply for tax repayments if their savings account interest has been taxed too much, while also offering them the chance to opt for gross savings interest payments in the future.
Sarah McCarthy-Fry, who acts as exchequer secretary to the Treasury, commented: "If you think you might have been overpaying tax on your savings, check the figures, and make a claim if you''re eligible."
The latest HMRC measures are said to form part of the organisation''s TaxBack campaign.
Last month, the body highlighted the success of the Health in Pregnancy Grant, which provides mothers to be with a source of financial support ahead of the birth of their child.
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