Martin Lewis: Had a PPI payout? If so, you can reclaim the tax on it

SusanBautista

Thank you so much for your help, any refunds will go to good cause. # be kind.

kentishwench

hello  in February 2018 my husband an I got a joint PPI payout of £2557.97 from HSBC  who deducted £306.23 tax
Giving us £2251.74 net.    My husband died in August 2018 and it is only now I’ve found out I can reclaim that tax.   Can I do this as it was a joint payment or do I have to split the £306.23? If so how?
thanknyou

Dazed_and_C0nfused

Already answered on your other post

b.brown53

My mother passed away in Dec 2018, and in sorting out her estate, I queried a bank account that she had to pay for a few years previously. The bank upheld my claim, and they refunded the bank charges and 8% interest. If I reclaimed the taxed element of the interest, whose income would it be set against, as I was only managing her estate?

b.brown53

My mother passed away in Dec 2018, and in sorting out her estate, I queried a bank account that she had to pay for a few years previously. The bank upheld my claim, and they refunded the bank charges and 8% interest. If I reclaimed the taxed element of the interest, whose income would it be set against, as I was only managing her estate?

Dazed_and_C0nfused

There is no refund due in that situation (payment made after death)

RobinGossard

Martin Lewis sir...you are a bit of a God!! As you said ,I did my PPI claims and so far got back £5500 , and did my HMRC R40 tax claim form online ,just as you said ,and just got my cheque refund for £750...WOW!! And I really wasn't going to do any of this ,but did what you said and now £6000+ better off ,and still have 3 more PPIs with RSB being worked on...so...A HUGE THANK YOU Martin...you have done so much for us needy bunch at a time we all need some good news in the world...Bless you!

Badger197

Had  some ppi back last year  filles out all the r40 forms in and sent back to the tax office took about 3 weeks to get a reply.  now i have to send all the ppi forms back with all the tax refunds on  has anyone else had too do this

Dazed_and_C0nfused

Badger197 said:

Had  some ppi back last year  filles out all the r40 forms in and sent back to the tax office took about 3 weeks to get a reply.  now i have to send all the ppi forms back with all the tax refunds on  has anyone else had too do this

Yes.  I suspect you have made some mistakes filling in the R40.

What did you declare in relation to the "PPI" related element?

savemoney

I got over 8k in all, didnt even know I had it was on a mortgage. They taxed me and my wife but I got it back later same tax year as I didn't earn enough