Tax on PPI Paid To Estate Of Late Wfe
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I've just received a PPI refund which includes a substantial amount of tax. In total it will push my income for the year over the 40% tax threshold, assuming no change to my employment situation between now and the end of the tax year. So on that basis I assume I will have extra tax to pay. However, about 30% of the interest has been paid to the estate of my late wife, of which I am the executor and sole beneficiary. So what happens to my late wife's share of the interest for tax purposes. Does it count as my income on which I will have to pay extra tax. Or can I claim back the 20% tax that has already been paid on it.