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Tax Question
inbetweener
Posts: 45 Forumite
Hi,
Today received a letter from Lloyds informing me I will be receiving a refund of £1603.18 for mis-sold ppi.
On the first, the breakdown is £741.21 refund with £479.82 accumulated from 8% interest.
The second is £291.26 refund and £90.79 interest.
Is it standard for me to know contact HMRC and if so how much would I be looking at paying back?
Thankyou in advance
Today received a letter from Lloyds informing me I will be receiving a refund of £1603.18 for mis-sold ppi.
On the first, the breakdown is £741.21 refund with £479.82 accumulated from 8% interest.
The second is £291.26 refund and £90.79 interest.
Is it standard for me to know contact HMRC and if so how much would I be looking at paying back?
Thankyou in advance
0
Comments
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inbetweener wrote: »Hi,
Today received a letter from Lloyds informing me I will be receiving a refund of £1603.18 for mis-sold ppi.
On the first, the breakdown is £741.21 refund with £479.82 accumulated from 8% interest.
The second is £291.26 refund and £90.79 interest.
Is it standard for me to know contact HMRC and if so how much would I be looking at paying back?
Thankyou in advance
If you're in the 20% tax bracket then you'll need to pay £114.12 (20% of £479.82 + £90.79)"The problem with socialism is that you eventually run out of other people's money"0
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