Income Tax Refund

ltimblick

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

-taff

Go to the HMRC website

amersall

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.

Dazed_and_confused

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.