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Form R40 success?
Has anyone has any success with claiming their tax back from PPI? My total amount is about £600 so far, already filled one R40 in for one claim but curious as to any successes/failures? Thanks Comments
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Many have had success.
Hopefully that has satisfied your curiosity.0 -
It's hardly a matter of success (or indeed, failure) - you are legally allowed (as a lower rate tax payer) to earn £1000 in interest a year before tax. If you are taxed on the interest element of the PPI refund and have not exceeded your limit you are allowed to reclaim it, if you are over the limit you will not be allowed to.
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Thank you nasqueron - forgive me for sounding dense but have never been great with taxes etc. I pay tax at the lower rate, work full time and have no savings. So do you think I'll get it back or not?You only get one life - but if you live it properly - it's enough! :rotfl:0
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kappachino10 wrote: »Thank you nasqueron - forgive me for sounding dense but have never been great with taxes etc. I pay tax at the lower rate, work full time and have no savings. So do you think I'll get it back or not?
Assuming you have not earned any interest, which it sounds like you haven't, then yes you will, as and well HMRC get on with it - like blood out of a stone sometimesSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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