PPI and DWP 4 November 2019 at 9:55PM edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance 2 replies 831 views

allie007

Apologies if this has been asked before. I have found out today that I will be receiving a PPI payout approx £2600, £1600 is gross interest which I know I have to declare to DWP as I receive tax credits. I used a claim company and will have to pay them over £600 from the total amount I receive. My question is do I declare the £1600, as my income wont be increasing by that amount due to the payment to the PPI company, or doesn't that matter?

Moneyineptitude

allie007 wrote: »

I used a claim company and will have to pay them over £600 from the total amount I receive. My question is do I declare the £1600, as my income wont be increasing by that amount due to the payment to the PPI company, or doesn't that matter?

Probably better asking on the Benefits board of this forum;
https://forums.moneysavingexpert.com/forumdisplay.php?f=139

(Yet another reason for not using a Claim Company)

brettcta

It’s likely the DWP will base it on the gross amount as they haven’t instructed you to use a CMC and will see it at £1600 earnings. The fact you have to pay a CMC is your problem, not theirs