Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • ltimblick
    • By ltimblick 8th Jan 18, 7:06 PM
    • 1Posts
    • 0Thanks
    ltimblick
    Income Tax Refund
    • #1
    • 8th Jan 18, 7:06 PM
    Income Tax Refund 8th Jan 18 at 7:06 PM
    Hi I got a PPI refund from my bank but they withheld the Income Tax.They say I can complete a form R40. Anyone know how?
    Thanks
Page 1
    • -taff
    • By -taff 8th Jan 18, 7:13 PM
    • 7,314 Posts
    • 5,368 Thanks
    -taff
    • #2
    • 8th Jan 18, 7:13 PM
    • #2
    • 8th Jan 18, 7:13 PM
    Go to the HMRC website
    • amersall
    • By amersall 9th Jan 18, 8:01 AM
    • 15,202 Posts
    • 18,793 Thanks
    amersall
    • #3
    • 9th Jan 18, 8:01 AM
    • #3
    • 9th Jan 18, 8:01 AM
    You can only claim it back if you are a non tax payer or, if the refund does not take you over your personal allowance.
    If that is the case, then taff has answered your question.
    Last edited by amersall; 09-01-2018 at 5:10 PM.

    • Dazed and confused
    • By Dazed and confused 10th Jan 18, 11:20 PM
    • 2,088 Posts
    • 940 Thanks
    Dazed and confused
    • #4
    • 10th Jan 18, 11:20 PM
    • #4
    • 10th Jan 18, 11:20 PM
    You can only claim it back if you are a non tax payer or, if the refund does not take you over your personal allowance.

    That is no longer true. For several years some people have been able have upto £5000 savings interest taxed at a 0% rate.

    And from 6 April 2016 most can get £1000 taxed at 0% (or £500 if you are a higher rate payer) even if they they don't qualify for the original £5000 taxed at 0%.

    So chances are you will be eligible to claim something back but not necessarily all the tax that was deducted from the PPI.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,139Posts Today

8,555Users online

Martin's Twitter
  • Today's Twitter poll: Following yesterday's poll about being an organ donor when you die - would you consider being? https://t.co/tCTWjJBin8

  • RT @clq: @MartinSLewis You hit that one right out of the park. It might be the Tweet of the Century. I don't think anyone can do any Batter?

  • You've run-out of puns. That's a bit of a googly, maybe I can help break your duck, though it is s sticky wicket, t? https://t.co/nJT51NpXfO

  • Follow Martin