PPI Tax reclaim

Could somebody please point me in the right direction for an answer to my query?
I have successfully claimed back PPI.
The cheque will be sent to me with in 10 days.
The tax taken off is roughly £800.
I have been saving hard for the past few years and this FY I will earn circa £600 in interest. I will not earn any substantial amount next year as I am spending most of the savings.
Can I cash the cheque in April so that I can claim the full tax amount back the year after or do I have to claim the tax in the year my claim was successful rather than the year I cash the cheque in?
Any help would be welcome.


  • edited 17 February 2020 at 2:36PM
    [Deleted User][Deleted User] Forumite
    26.6K Posts
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    edited 17 February 2020 at 2:36PM
    Contact HMRC, but as far as I know you have to claim back any overpaid tax for the year that it was paid. 
  • Dazed_and_C0nfusedDazed_and_C0nfused Forumite
    9.8K Posts
    1,000 Posts Third Anniversary Name Dropper
    When you get round to cashing the cheque is irrelevant.

    You do know that basic rate taxpayers can get up to £5,999 interest which will be taxed at 0%.

    The exact amount depends how much your taxable earnings, business profits, rental income etc is.
  • fas1952fas1952 Forumite
    4 Posts
    First Post
    Can you help please hi can anyone help please I am trying to fill an r40 form online and I do not not know what figures to I need to put in section 3 I have the options from the reward letter but do not know the relevant figure to enter into each section on the tax form I have taken a photo of the tax form section and the section on the award letter any help would be greatly appreciated. Regards

  • annabanana82annabanana82 Forumite
    2.5K Posts
    Seventh Anniversary 1,000 Posts Name Dropper
    The bottom box is the biggest number, the middle one the smallest - tax deducted and the top one should equal the bottom box minus the middle box. 
    I got confused on that bit too, but I hope what I've put makes sense 
    Make £2023 in 2023 (#36) £934.61/£2023
  • fas1952fas1952 Forumite
    4 Posts
    First Post
    Me again this forum is absolutely great so helpful another question.
    if you have been given an award in joint names to both me and my husband who would claim the tax back please?
This discussion has been closed.
Latest MSE News and Guides

British Gas prepay meter users...

...to pay less for gas from 1 April

MSE News

The 'odd Easter flavours' thread 2023

What bizarre food stuffs have you spied?

MSE Forum

Energy Price Guarantee calculator

How much you'll likely pay from April

MSE Tools