Tax ppi help please

princess23

Hi everyone I hope someone can help with regards to claiming back the Tax on PPI claims. I have been recently successful in claiming back £212 from Lloyds due to the fact I'm unemployed and it was broken down on the letter received regarding payment showing tax taken from me.
My question now is I have received other payments from Lloyds where when the figures were broken down it just says as follows:-

Refund of premiums 313.81
early settlement difference 436.58
interest at 8% 605.23

total refund 1355.62

No mention of tax deduction so is it fair to say that was not taken??
Thank you in advance for any help on this

[Deleted User]

It would be very fair to say that.

Dazed_and_confused

Did you actually receive £1355.62 in your account?

Mrsn

I’ve had a PPI payment from Lloyd’s previously where the tax has been deducted. There’s quiet a bit of waffle
In the letter so worth having another look just to clarify the situation?

princess23

Dazed_and_confused wrote: »

Did you actually receive £1355.62 in your account?

Sorry for delay in reply yes that's what I received in my bank account.

princess23

Mrsn wrote: »

I’ve had a PPI payment from Lloyd’s previously where the tax has been deducted. There’s quiet a bit of waffle
In the letter so worth having another look just to clarify the situation?

The only figures on the letter were that what I had quoted so I am unsure whether text had been deducted or is it unless it is itemised tax was not taken?

Dazed_and_confused

I think you'll need to check with Lloyds to be certain.

There appears to be two possibilities,

You have been paid £605 interest gross with no tax deducted. Which would be unusual for a PPI payout.

You have been paid £605 interest net of basic rate tax i.e. the figures would be gross interest £756 less £151 tax = £605 net interest.