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Self Employed Income Tax PPI refund query
djdust
Posts: 169 Forumite
Hi all
I'm self-employed and was lucky enough to recently get a PPI refund from Nationwide Building Society. In the letter they sent with the cheque, they advised me that they'd automatically deducted income tax and paid it directly to HMRC on my behalf. Can anyone advise:
a) Do I need to declare this on my tax return?
b) Can I claim that money back at all?
cheers
I'm self-employed and was lucky enough to recently get a PPI refund from Nationwide Building Society. In the letter they sent with the cheque, they advised me that they'd automatically deducted income tax and paid it directly to HMRC on my behalf. Can anyone advise:
a) Do I need to declare this on my tax return?
b) Can I claim that money back at all?
cheers
0
Comments
-
a) Do I need to declare this on my tax return?
Yes. Interest is declarable.b) Can I claim that money back at all?
only if you are non-taxpayer.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.0
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