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

jam1eg

You're confusing me more now -   I've not said basic rate band is £22,000    - but I think you're taking off the PA part.

I see how you're getting to the £45,000 on adding the PA to BRL, the thing that has spannered me the most is HMRC saying I'm a higher rate tax payer so I've gone looking for why as I didn't think I was, I've asked them to send me the complete workings on how they have come to the decision that nothing is owed, upon receipt I can have a peek to where this has been worked out.

My P60 doesn't say what bracket I'm in either - I've no clue how to work it out.

My P60

Dazed_and_C0nfused

You posted this

11500 - 33500 is BRL

A span of £22,000.

Anyway, the standard basic rate threshold was £45,000 (£11,500 + £33,500) so if your only taxable income was £37,726 earnings and £2,651 interest you aren't a higher rate payer.

From what you've posted a refund of c£200 is due.

jam1eg

Thank you so much for your assistance with this - a right headache for a untrained person. Really appreciate your time.

Bailey72

Hope someone can help me.  I earnt 12078 in the year I claimed the PPI interest.  The first R40 I got a letter back saying they didnt understand what I was doing.  I only claimed £427 in PPI tax.  I received a check back for the full amount.  Now I have received a simple assessment from the HMRC, and they want all the money back again.  What do I do please?  One thing, I was in an accident and received a brain injury so could I have the info in easy to understand message please.  many thanks

Dazed_and_C0nfused

Let's start with some definite facts.

Was the tax deducted from the interest £427?

Which tax year was the refund for and was the refund £427?

Are HMRC asking for exactly £427 back for the same tax year?

If so do you have the previous calculation (a P800?) still available to compare to the new calculation?

loughlini

Hi Martin, In one of your earlier replies you mentioned that people under Self Assessment cannot go down this route (ie the R40). I am retired and have a small French pension so I am obliged to submit a self-assessment form each year. Does this mean I have to use other routes to gain a PPI tax refund, eg just write to them?

Dazed_and_C0nfused

loughlini said:

Hi Martin, In one of your earlier replies you mentioned that people under Self Assessment cannot go down this route (ie the R40). I am retired and have a small French pension so I am obliged to submit a self-assessment form each year. Does this mean I have to use other routes to gain a PPI tax refund, eg just write to them?

You wouldn't be due a refund now.

Any refund would have been calculated when you in included all of your taxable income on your Self Assessment return, including the interest paid alongside your PPI refund.

Or do you mean you have filed an incorrect Self Assessment return omitting some taxable income?

thenumptee

Hi all and thanks in advance for any help.

I am having big problems trying to get the tax back on the interest paid on some PPI claims in 2020/2021 tax year.

I completed the form R40 online in June and received a reply in September saying they were returning the form and I needed to send them the documents which detail the PPI claims. Anyway, I rang HMRC to explain that I hadn't received the form R40 back and it was probably because I'd completed it online. They recommended waiting a while for the form to be sent back separately but if it didn't arrive to just enclose a covering letter.

I finally posted the documents including the covering letter to HMRC on Oct 11th by 1st class recorded delivery. Royal Mail's tracking says it's still with them but knowing that this is flaky at best I have been trying to get hold of someone at HMRC to see if the letter was received. This has proved impossible so far. I have been holding on the line for nearly half an hour before having to give up and today I finally got through to someone but they didn't seem to know anything about anything. I was in the middle of asking if he could see my claim in front of him and he hung up on me.

I'm at my wits end and guess this is more of a rant than a plea for help but I just don't know what to do next.

Should I wait? Should I try sending the PPI documents again?
Should I just complete the paper version of form R40 and enclose the PPI documents with it?
Should I just give up?

barnyg

Hi. I've gone through the posts but can't find an answer.
I've just received a refund on which I've paid  £400 tax.
My question is do I have to wait until the end of the current tax year claim the refund. 
Thanks.

akamai

thenumptee said:

Hi all and thanks in advance for any help.

I am having big problems trying to get the tax back on the interest paid on some PPI claims in 2020/2021 tax year.

I completed the form R40 online in June and received a reply in September saying they were returning the form and I needed to send them the documents which detail the PPI claims. Anyway, I rang HMRC to explain that I hadn't received the form R40 back and it was probably because I'd completed it online. They recommended waiting a while for the form to be sent back separately but if it didn't arrive to just enclose a covering letter.

I finally posted the documents including the covering letter to HMRC on Oct 11th by 1st class recorded delivery. Royal Mail's tracking says it's still with them but knowing that this is flaky at best I have been trying to get hold of someone at HMRC to see if the letter was received. This has proved impossible so far. I have been holding on the line for nearly half an hour before having to give up and today I finally got through to someone but they didn't seem to know anything about anything. I was in the middle of asking if he could see my claim in front of him and he hung up on me.

I'm at my wits end and guess this is more of a rant than a plea for help but I just don't know what to do next.

Should I wait? Should I try sending the PPI documents again?
Should I just complete the paper version of form R40 and enclose the PPI documents with it?
Should I just give up?

HI, I'm in the same boat, applied by letter (as couldn't submit it on the R40) in April 2022, and despite ringing every six weeks, I am getting nowhere, although I know it has been received and passed to 'Technical Team', I haven't heard from them about why it is taking so long, did received an apology last week from the lady that took my call, saying it 'really shouldn't have taken this long', but have yet to hear back form anyone.