Natwest ppi

hmc

Hi all
I rang natwest less than 2 weeks ago and answered 7 questions over the phone, no forms to fill in, regarding 5 back to back loans I had years ago
I've been offered money within 2 weeks very impressed
Question is do I accept their offer? They state ppi cost,interest and deduction for tax????
They have sent 5 different letters and amounts for all loans
Do they always get the amount right?
I don't earn enough to pay tax, do I have to pay it?
Thanks in advance

[Deleted User]

hmc wrote: »

I don't earn enough to pay tax, do I have to pay it?

The Bank pays it for you, you have no choice in the matter. If you aren't a taxpayer, you'll have to apply for a refund from HMRC.

hmc

Thank you, am I likely to get it refunded or is it a pointless exercise?

[Deleted User]

hmc wrote: »

Thank you, am I likely to get it refunded or is it a pointless exercise?

As I said, if you are not a tax-payer you can apply to HMRC for a refund. Do note that the amount will be added to your tax-free threshold for the year and if you then exceed this then you will still be liable to pay (some) tax.

hmc

Thank you for the help