R40: claim back tax deducted from savings and investments
A practical guide to the R40 repayment claim, with extra checks for people living abroad or with several investment accounts.
Short answer: R40 is used to claim a repayment of Income Tax deducted from savings and investments when the tax was not due or was deducted at the wrong rate. Check whether the repayment belongs on Self Assessment instead, and keep the certificates and statements that support the figures.
Key points
- Use the current R40 guidance and tax year form.
- Check whether Self Assessment is the correct route.
- Include all relevant interest and tax deducted.
- Residence and treaty relief can change the analysis.
When an R40 may not be enough
If you already file Self Assessment, have untaxed income or need to claim residence or treaty relief, the figures may belong in the return rather than a standalone R40. Do not claim the same tax twice.
Investment records
Gather bank certificates, broker statements, dividend vouchers and details of joint ownership. For a complex portfolio, separate income, disposals and foreign withholding tax before choosing the filing route.
Written and reviewed by Matthew S Manderson CTA ATT AMIT
Reviewed 3 September 2026. General guidance only; tax treatment depends on individual facts.