PPI claim - what are you entitled to?

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Received a lovely e-mail today telling me my complaint had been upheld.
However the breakdown was
Monthly payment 36x16.45
Total value 592.20
Statutory interest @8% 487.85

Total value refund 1 080.05

Should there be extra interest paid and also tax applied?
Any advice gratefully received Thank you

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  • Nearlyold
    Nearlyold Posts: 2,300 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
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    What extra interest are you expecting? Assuming this was a regular premium PPI (not single premium added up front to the loan) then the calculation seems correct. Tax may be payable on the interest element depending on what other interest paying investments you might have.
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