Pensioners in Elmbridge might be entitled to extra money, following announcements this week that 24,500 have overpaid tax on their interest savings.
This comes as HM Revenue and Customs (HRMC) launches its Taxback campaign and, in Surrey alone, 216,000 pensioners could be eligible for a tax windfall.
Banks and building societies deduct 20 per cent tax by law, but pensioners and other savers may qualify for the 10 per cent saving rate and be due money back.
Sarah McCarthy-Fry, exchequer secretary to the Treasury, said: “We know times are tough for many pensioners, and we don’t want anyone paying tax they don’t need to.”
Pensioners can also register for tax-free interest on the savings if they are non-taxpayers.
For advice on making a claim call HMRC on 0845 3667850 or visit hmrc.gov.uk/taxback.
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