Family Friend - Personal Tax

bloobuoy75 Registered Posts: 16 New contributor 🐸
Hi All,

I have a family friend who has 'Power of Attorney' for his elderly uncles estate. The uncle is into his 80's and has dementia hence the reason why 'Power of Attorney' was granted.

The Uncle receives income from a state and personal pension that totals about £8,000 per annum. He also has substantial investments (share and deposit accounts) and the dividends and interest received from these take his income up to £15,000.

The interest and dividends received are net of tax. Is he entitles to claim back the tax on the interest and dividends received and is self assessment the way to do this? We haven't been able to find any evidence that the uncle has completed a tax return!

Your advice and experience is appreciated.




  • K H
    K H Registered Posts: 81 Regular contributor ⭐
    Probably the best way to recover any overpaid tax is by submitting a repayment claim on form R40 (available to print off on the HMRC website).

    Once this is submitted HMRC will probably send Tax Returns in the future.

    The tax credit attached to dividends is non-recoverable, but the tax deducted from interest received is repayable, subject to his other income not exceeding his age-related personal allowance.

    Hope this helps.

    K H
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