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PPI Tax Refund paying off debt

julies59
Posts: 61 Forumite


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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Comments
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No.
He can't have a refund of something he didn't pay.2 -
He did pay for the PPI ,Martin said you can claim the tax back even if the money is used to pay off a debt,0
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Your original post suggested there was no tax.
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.1 -
julies59 said: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 £3,210,73In addition the whole refund is not taxed in any case; only the interest element.As above, post the complete breakdown the Bank provided.0
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The breakdown0
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That shows that no tax has been paid, so there could be no refund.2
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As above, how can you expect to get a refund of tax you haven’t paid?helpful tips
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)1 -
So you paid only a few grand for this policy, successfully claimed over twelve grand from it and now expect further remuneration????You didn't pay any tax on the refund, because the gross payment awarded was nil...
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..Your thread title is inaccurate. There was never any outstanding "debt" to repay on this account.3
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