PPI Reclaim Success

northernuk2000

Hello - and wondering if anyone had the answer!

Thanks to Martin and his team, I submitted a claim for my late Dad. Anyway, success Barclays agreed to a refund of £21k - yes a heck of a lot which I will share with my brother and sisters and will help my family a lot.

I haven't received the cheque yet, signed the form early December and just waiting for the cheque (they said on receipt of the signed form they will send a cheque).

Questions is tax paid on this, is £3k and I read I may be able claim this back as I am a basic taxpayer 20% and married. Is this correct even though the claim is from a deceased parents accounts?

[Deleted User]

It will need to be treated as part of his estate and the appropriate inheritance tax paid, if any. Then it can be distributed by the executor according to the will.

Dazed_and_confused

Very doubtful any tax can be reclaimed.

I think the basic rate of 20% applies to interest in this situation.