What is an R40 form?
An R40 form is required if you want to reclaim tax paid on investments. You can do this if you earn less than £50,000 a year, and it’s worth doing if you make large sums of money from investments. If you don’t claim it, HMRC will keep the money.
The form requires you to provide information about yourself, your family, your assets, and your income. It covers things like how much you earn, whether you live alone, what type of house you live in, how many children you have, where you work, and how much you spend each month.
When do I need to fill out an R40?
If you paid too much income tax during 2018, it might be worth filling out an R40 form. This is because the government allows taxpayers to reclaim some of the money they overpaid. If you do decide to claim back some of the money you owe, there are two ways to go about doing it. You can either file the form online or post it to HMRC.
The deadline for filing an R40 form is 30 June 2019. However, you don’t have to wait until then to start thinking about how to complete the form. In fact, you should probably start now. Here’s why…
How many tax years can I use an R40?
The R40 form is used by non residents who want to claim back taxes paid abroad. You only need one R40 per tax year. However, there are several limitations. First, you cannot use the same R40 form for more than three consecutive tax years. Second, you must complete the SA100 form within six months after filing the R40 form. Third, you cannot use the R40 form for more tax years than the number of years you spent outside South Africa.
Where do I send my R40?
HM Revenue & Customs (HMRC) has updated its online submission portal for the self-assessment tax return form, R40. This includes changes to how it accepts applications for submitting returns.
The R40 is used to calculate income tax, capital gains tax and corporation tax. You can apply online to make payments, claim refunds and view your account balance.
If you are applying for the first time, you will need to provide some basic information such as your name, address, National Insurance number and bank details. If you already have a record of filing a previous tax return, you won’t need to fill out those fields again.
You can use the same password you used during the registration process. However, you’ll need to change your password every six months.
Once you’ve submitted your application, you will receive a confirmation letter. You must pay the tax due before 28 days have passed.
R40 PPI tax rebate
If you paid for a PPI insurance policy before 01/1/2012, you are eligible for a refund. You can claim it online here.
The R40 PPI tax rebate covers the period from 01/01/2010 to 31/12/2015, and is calculated based on the amount of premium you paid for the whole period.
You’ll receive a statement showing how much you’re entitled to. If you’ve already received a payment, you can check whether you’re still owed money by entering the reference number on the statement into our calculator.
Once you’ve claimed the rebate, we’ll send you a confirmation email. Please note that you’ll need to provide us with proof of purchase, such as your receipt or invoice.
Do you need help with your form R40? Follow the link below to contact HMRC
More income tax forms are now available online. You can find out what is required by filling in our simple form. If you still require assistance, we are here to help. We have put together some helpful information about each form and how it works.
What is a ‘Transferring Married Couples Allowance’ form 18?
This form is used to calculate the amount of money that needs to be paid into the government’s Universal Credit scheme. This is because married couples often receive different benefits under the system.
Frequently Asked Questions
How do I send in an R40 to reclaim tax?
The R40 form is used to reclaim VAT paid on goods bought abroad. To file the form, you must pay it within three months of making the purchase. If you are unable to pay the full amount within this period, you will still be able to reclaim some of what you owe.
You can use your Government Gateway account to upload the form online. Alternatively, you can download the form here and print off a copy to take to your local post office to hand in.
Who can submit an R40 form?
You can use the form R 40 to reclaim tax paid on your bank interest or investment if you’re eligible. You must make sure that you’ve been paying enough tax on your earnings, however, so it’s important to check whether you qualify.
If you don’t pay enough tax on your earnings to cover the amount you claim, HMRC will deduct the difference from your next tax bill.
The form is free to complete and submit online. However, you’ll need to provide some basic information to confirm your identity. This includes your name, address, date of birth, National Insurance number and bank account details.
Once completed, you’ll receive a confirmation email within 48 hours.