PPI Tax reclaim

Lond2009

Hi, I received a PPI payout last year.  Please can someone confirm if i am able to claim back the tax?  Many thanks

[Deleted User]

If you're below the tax threshold, yes.

Lond2009

Thanks.  I am a basic rate tax payer.  What is the threshold? Finding this all rather complicated looking at the R40 form online.

Dazed_and_C0nfused

A basic rate payer can have up to £5,999 interest which will be taxed at 0%.

The more basic rate tax you pay the lower the £5,999 figure becomes until it drops to £1,000.

What are you finding complicated about the R40?  You do know you only complete the sections which apply to you.

Badger197

hi i have had some ppi  payouts have tried to get a refund on the tax filled out forms etc sent to tax office which took nearly 3 weeks for reply ..they are asking now for copies if the ppi forms from which i still have is this still ok to do ,with all the tax on ..

[Deleted User]

If you want to reclaim the tax, yes.

spaniel-lover

What about people on means-tested ESA? I agree that the R40 looks complicated. 

spaniel-lover

Badger197 said:

hi i have had some ppi  payouts have tried to get a refund on the tax filled out forms etc sent to tax office which took nearly 3 weeks for reply ..they are asking now for copies if the ppi forms from which i still have is this still ok to do ,with all the tax on ..

Do you mean the forms you filled out to claim? I did mine online....

Dazed_and_C0nfused

spaniel-lover said:

What about people on means-tested ESA? I agree that the R40 looks complicated. 

Do you actually have a question?

sheeps68

I tried to fill in the form but got in a pickle with a couple of questions. Rang HMRC and they were amazing. Started to go through the form with me but then said would I like them to do it. Yes please I say and within a couple of minutes it was all sorted and a cheque will be in the post shortly.

Dazed_and_C0nfused

Was it definitely HMRC and not a claims company?