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Lloyd's and Barclays PPI tax

strawb_shortcake
Posts: 3,495 Forumite

Wondering if anyone can advise having seen that you can now claim tax back on the PPI interest payment. Back in 2018 I made a direct claim through both Barclays and Lloyds and recieved circa £3700 and £2000 back for PPI back in the early 2000's. I can't find the paperwork so unable to see if tax was deducted, I know I can ask the bank but thought I'd check here first if anyone could remember. I did find a page on MSE that said larger banks did not deduct the tax but this was dated 2011 so predates the the new rules on tax, so no idea if the article in the link answers my questions
https://www.moneysavingexpert.com/news/2011/11/got-a-ppi-payout-you-probably-owe-tax/
Many thanks
https://www.moneysavingexpert.com/news/2011/11/got-a-ppi-payout-you-probably-owe-tax/
Many thanks
Make £2023 in 2023 (#36) £3479.30/£2023
Make £2024 in 2024...
Make £2024 in 2024...
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Comments
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I think the rules changed quite some time ago so I would expect payments in 2018 to have had tax deducted (from the taxable element).0
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Thank you, I'll contact the banks and see what comes back. I seem to recall tax being mentioned but more on that I was liable to pay it?? But it's been awhile so may well be wrong. I don't suppose it would be much back on those sums anyway.Make £2023 in 2023 (#36) £3479.30/£2023
Make £2024 in 2024...0 -
Got through to Lloyds today, I paid £468.16 tax so will be able to claim that back. The Barclays was in my Husbands name, I think his will be about halfMake £2023 in 2023 (#36) £3479.30/£2023
Make £2024 in 2024...0
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