HM REVENUE AND
CUSTOMS News Release (NAT 31/07) issued by The Government News
Network on 16 May 2007
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