Tax on savings interest
Previous tax years
If you’re self-employed and need to declare savings interest from a previous tax year, you’ll have to report it in a Self-Assessment tax return.
HMRC automatically deducts tax on any savings interest you owe, if you’re employed or get a pension.
Reclaim tax from previous years
You can reclaim tax paid on your savings interest if your income was below your Personal Allowance. You must reclaim your tax within 4 years of the end of the relevant tax year.
How to claim
You can claim through your Self-Assessment Tax Return if you complete one. If not, fill in form R40 and send it to HMRC. It normally takes 6 weeks to get the tax back.
Get help
Contact the savings helpline if you need help and advice.