HM Revenue and Customs
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New tax repayment form (r40) now available
HM Revenue & Customs (HMRC) has redesigned its R40 'Tax Repayment Form' to make it easier for customers to understand and complete.
Form R40 is used by around 600,000 people every year - mainly pensioners, married women and children - to claim back tax deducted from bank or building society interest, or other investment income.
The new 4-page form has the same look and feel as the Short Self Assessment Tax Return, introduced last year, and follows a successful two-year trial involving around 1,000 people.
Anyone who hasn't completed a R40 before, and thinks they need to, can request copies of the new form from the HMRC Forms Helpline on 0845 9000 404 or download it from the HMRC website at http://www.hmrc.gov.uk/forms/r40.pdf
Anyone paying too much tax on their bank or building society interest may be able to register to have it paid gross, without tax being deducted. To find out more, call the Registration Helpline on 0845 980 0645 or log onto http://www.hmrc.gov.uk/taxback
Notes to editors
1. Updated guidance notes are also available at http://www.hmrc.gov.uk/forms/r40notes.pdf
2. R40 forms issued this year will be accompanied by a flyer, explaining how the new form works and how to fill it in. This can be viewed at http://www.hmrc.gov.uk/guidance/r40flyer.pdf
3. Claims can be made for any of the six previous tax years, but a separate form is needed for each year.
4. PAYE customers who have filled in a form R40 in earlier years should receive a new form automatically. Non-PAYE customers will receive a replacement new form as and when they submit a claim for repayment during 2007/08.
5. HMRC will continue to accept old versions of the R40 form.
6. As well as bank or building society interest, other investment income could include income from trusts or annuities.
Issued by HM Revenue & Customs Press Office
Website http://www.hmrc.gov.uk
