Mis selling isa compensation and tax

Roegreen1970

Hi there. I am after advice on compensation I received for mis selling of an investment isa. I received money last year as compensation dating back many years. The compensation was taxed by the bank. I feel like this should go on my self assessment for the year but am not sure where to show it, any ideas? Many thanks Mike 

masonic

If the compensation includes an interest payment, then they should provide you with a tax deduction certificate and you would declare this with your other savings interest. If you've received compensation to refund a loss you've experienced than that part should not have been subject to income tax.