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PPI Tax reclaim

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

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    If you're below the tax threshold, yes.
  • Lond2009
    Lond2009 Posts: 23 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    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
    Dazed_and_C0nfused Posts: 17,792 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    edited 9 March 2020 at 10:04PM
    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
    Badger197 Posts: 11 Forumite
    Third Anniversary First Post
    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]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    If you want to reclaim the tax, yes.
  • What about people on means-tested ESA? I agree that the R40 looks complicated. 
  • 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....
  • What about people on means-tested ESA? I agree that the R40 looks complicated. 

    Do you actually have a question?
  • sheeps68
    sheeps68 Posts: 671 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    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.
  • Was it definitely HMRC and not a claims company?
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