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PPI & Tax
mjackman76
Posts: 8 Forumite
Hi folks
This may be an obvious question to ask: With my earnings, i am close to the threshold of my current tax bracket (but will not go over it with my earnings for this year). I have however just been sent a cheque for £2990 by Barclaycard as a PPI reclaim. My question is, does this figure contribute or count as my earnings/income, and if so - presumably this could end up tipping me into the next tax bracket for next year and potentially having to pay more tax for this year?
Thank you.
MJ.
This may be an obvious question to ask: With my earnings, i am close to the threshold of my current tax bracket (but will not go over it with my earnings for this year). I have however just been sent a cheque for £2990 by Barclaycard as a PPI reclaim. My question is, does this figure contribute or count as my earnings/income, and if so - presumably this could end up tipping me into the next tax bracket for next year and potentially having to pay more tax for this year?
Thank you.
MJ.
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Only the interest part.0
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