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Tax on PPI repayment (Welcome Finance)

projectsome
projectsome Posts: 30 Forumite
Part of the Furniture 10 Posts Combo Breaker
in Reclaim PPI & other insurance
Hi all,

I've had money back from FSCS/Welcome Finance (around £3000) for mis-sold ppi

Does anyone know if FSCS/Welcome Finance would have deducted the tax or will I have to pay it on the £3000?

Thanks

Comments

  • tigger74
    tigger74 Posts: 24 Forumite
    What does it say on the paperwork?, is there a break down of ppi policy and the 8 percent ?
  • projectsome
    projectsome Posts: 30 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I've not had any letters back or anything.

    It was just in my bank account from yesterday (only noticed today)
  • dunstonh
    dunstonh Posts: 121,360 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    letters will be coming. Wait for them.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • projectsome
    projectsome Posts: 30 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    projectsome wrote: »
    I've not had any letters back or anything.

    It was just in my bank account from yesterday (only noticed today)


    knowing my luck I'd have spent all or most of it before the letter comes and end up with a huge tax bill :D
This discussion has been closed.
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