Tax Free Savings Account

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  Bank Account 2/27/2008

  Review your savings and investments to make sure you are making the most of any tax free products and accounts, such as Individual Savings Accounts (ISAs) and certain National Savings products, including savings certificates and Premium Bonds. Bank and building society accounts Interest from bank and building society accounts has had basic rate income tax deducted when ita s paid to you (you will have to pay more tax if youa re a higher rate tax payer). If you dona t pay tax, you can ask for interest to be paid gross (before tax has been deducted) by filling in form R85, available from your bank or building society. You can reclaim tax already deducted by filling in form R40, available from your tax office.