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PPI tax refund - oh dear!! help!!!

Hainsie · 2019-01-24 10:15:49

So, I put in a claim for tax paid from PPI refunds using 2 R40s through HMRC over two different tax years. Claims totalled 8£00. According to HMRC, not only am I not due the claim of £800, but I owe them £219!!! Ever wish you never put a claim in? How can I check this and get some help?:mad:

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Dazed_and_confused Posts: 6,458 Forumite

24 January 2019 at 10:45PM

As others have said it is probably down to the R40 being completed incorrectly but it may just be the op is liable at higher rates of tax so despite some of the interest being taxed at 0% the 40% tax counteracts that leaving tax payable.

If it is the form completed incorrectly then the op will need to write to HMRC and explain what the correct entries should be. Then they can recalculate.

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PPI tax refund - oh dear!! help!!!

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