The Chartered Institute of Taxation (CIOT) report that there have been a number of errors on R40 computations prepared by HMRC.

The R40 is used by individuals to claim a tax refund relating to tax deducted on Savings income.

HMRC have confirmed that there is an issue with R40 computations.

The problems surround the Personal Savings Allowance and the Dividend Allowance. HMRC advise they have identified a workaround that should address the issue in most cases.

The CIOT’s view is that there may be other errors occurring on R40 computations that are not related to these allowances and have suggested that those claiming refunds using this form check the tax computation carefully.


Savings income: tax on interest

Dividend tax (rules 2016/17 on)

Dividend tax (subscriber guide)


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