R40 interest tax claim on Ppi

Gord71

hi 
I’ve been rejected for a tax deduction rebate on an old PPI payment which was issued in 2015 . The tax of approximately 1300 pounds was deducted . 
I completed a R40 claim but it has turned down claiming length of time had expired . Is it worth appealing and is this decision correct ? . 
Thanks 

[Deleted User]

No it's not and yes it is.

Dazed_and_C0nfused

Gord71 said:

hi 
I’ve been rejected for a tax deduction rebate on an old PPI payment which was issued in 2015 . The tax of approximately 1300 pounds was deducted . 
I completed a R40 claim but it has turned down claiming length of time had expired . Is it worth appealing and is this decision correct ? . 
Thanks 

2015 means nothing really in terms of tax.

Do you mean the 2014:15 tax year (ending on 5 April 2015) or 2015:16 (ending on 5 April 2016)?

When did you send the R40 to HMRC?

Roughly how much did you earn (amount shown on your P60 from a job or pension) in the tax year the R40 was for?

dunstonh

I’ve been rejected for a tax deduction rebate on an old PPI payment which was issued in 2015 

Were you are non-taxpayer in that year?

If not, why do you think you can claim the tax back?  (the savings personal allowance was introduced on 5th April 2016.  Prior to that it was taxed but non-rate could claim it back)

bubbles_shopping

Hi
i am trying to complete R40 form to claim tax on ppi payout for 2016/17
my tax code is 1210m
earnings were £29931. 31 tax paid 3564.40
i am unsure what to put in box 3, gross compensatory interest on refund due was £1297.70, less basic rate of tax to be withheld was £259.54
Can I claim and what do I put in which box?
 Thanks 

Dazed_and_C0nfused

Any refund due is based on your total taxable income for that tax year and in particular what other interest you received i.e. non ISA interest from savings accounts (which doesn't have tax deducted)

For the taxed interest you need to declare the gross amount, tax deducted and deduct one from the other to get the net.

You might get anything from £0 to £200 back depending on any other interest received.

bubbles_shopping

Thanks, so I have not received any other interest, based on my previous post can anyone clarify what my gross amount would be, and how much tax I need to deduct? Which boxes Does this go in box 3 on R40  Any help appreciated 

[Deleted User]

bubbles_shopping said:can anyone clarify what my gross amount would be, and how much tax I need to deduct? 

You personally don't "deduct" anything. 

Your figures need to be gleaned from the redress letter you received from the Bank with regard PPI. If you no longer have this, you can request a breakdown from them. 

No one here can tell you what other interest income you may have received in that particular financial year..

Dazed_and_C0nfused

bubbles_shopping said:

Thanks, so I have not received any other interest, based on my previous post can anyone clarify what my gross amount would be, and how much tax I need to deduct? Which boxes Does this go in box 3 on R40  Any help appreciated 

Isn't that what the figures you originally quoted are???

gross compensatory interest on refund due was £1297.70, less basic rate of tax to be withheld was £259.54