PPI Tax Refund paying off debt
in Reclaim PPI & other insurance
8 replies 132 views
My husband recieved a PPI refund from Halifax of £3,210,73 because he had made a PPI claim on the account he didn't get a refund but they took the amount off his claim,on the form it says the 20% tax refund is nil so can he put in a claim to get the 20% back from the £3,210,73
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He can't have a refund of something he didn't pay.
Irrespective of what you might think Martin Lewis has said PPI refunds aren't taxable and don't have tax deducted. The statutory interest/compensation paid alongside the PPI refund is taxable and does usually have tax deducted.
No one can really help you until you provide the breakdown of how the total PPI related payout was calculated.
it's spelt d-e-f-i-n-i-t-e-l-y
there - 'in or at that place'
their - 'owned by them'
they're - 'they are'
it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
This will have been an exercise in simply improving the Bank's complaint statistics. Since no additional money was ever going your way, the Bank upholding your "complaint" has cost them nothing which is exactly what you are entitled to..