Tax query on PPI refund tax 10 October 2018 at 8:33PM edited 30 November -1 at 1:00AM in Reclaim Bank & Credit Card Charges 1 reply 872 views

Old_Codger

I have successfully reclaimed PPI on several old cards, I am a non taxpayer so decided to reclaim the tax I paid on the refund, the total tax paid on the refunds (£2500) will take me over the income tax threshold.
I am assuming that I will only pay tax on the difference between the tax threshold and the final amount, so it will take £1000 to take me to the threshold and £1500 over the threshold so I will only pay tax on the £1500.
Am I correct ?

[Deleted User]

Old_Codger wrote: »

Am I correct ?

Very likely. Contact HMRC.