I need help with completing the R40 tax form for claiming tax back on a PPI refund

Molly4

Good Morning,
I hope this is the right place to post this or can someone direct me to the correct thread? 
I am completing the R40 form to claim back tax paid on a PPI claim I have received. 
I am confused by the terminology when inputting details on the interest.
The R40 form asks for 
****************

UK interest

Do you receive income from UK interest?

Yes

No

Net interest paid by banks, building societies etc, purchased life annuities and PPI payments

After tax taken off

£ 

Tax taken off the gross interest paid by banks, building societies and purchased life annuities

£ 

Gross interest paid by banks, building societies and purchased life annuities

Before tax taken off

£ 

Do you receive interest that has not been taxed at all?

Yes

No
****************
On my PPI award I have the following details:
Total refund of PPI premiums and associated interest paid to date
Statutory interest (Gross interest at 15% added up to 31st March 1993 and at 8% from 1st April 1993)
Less income tax on statutory interest (20%)
Net offer

Whilst the income tax figure is the only one that is clear to me how do I calculate the gross and net interest figures? The "statutory" interest figure appears to be gross interest on each PPI premium payment but the "total refund" figure is both PPI premiums and associated interest. 

I my query makes sense.
Regards
molly57 
P.S. 

Sorry forgot to add I have spoken to HMRC on Live Chat yesterday morning and the operative was not able to answer this query for me. I have noticed on other peoples posts that they are not getting refunds of the tax and are actually owing HMRC money. Is this possibly from putting the wrong amounts in the boxes which I am trying not to do hence this post? 

Dazed_and_C0nfused

Normally the gross (PPI related) taxable interest is 5x the tax deducted.

The net amount is 4x the tax deducted

So if the tax was say £500 then you would have

Gross interest £2,500
Tax deducted £500 (20%)
Net interest £2,000

Those owing tax will usually be for one of two reasons,

They have made a mess of filling the form in - going off the posts on here people regularly seem to declare the PPI refund itself rather than just he taxable income
Or
They owe more tax than was deducted as they are a higher rate payer

Molly4

Thank you Dazed_and_C0nfused. I shall work with that. It's a pity the person at HMRC wasn't able to tell me that. The person seemed confused because it was realting to PPI and kept referring me to the guidelines which are not really clear as they are in tax speak.

Molly4

Good Afternoon
I have now submitted my claim on form R40 so I will wait and see what happens. Now I've worked out the figures based on the above advice the answer was actually simpler than I thought. The figures I needed were Statutory interest (gross interest) minus the tax paid which gave me the net interest figure I required.