Tax Refund on PPI

vickiek

Hi all, hoping someone can make this a bit clearer for me please. I had a PPI claim pay out and the bank paid the 20% tax. As advised I put a R40 claim form in then recently got a reply saying I have underrated and now owe hmrc. They plan to deduct from my wages over 12 payments so not too much hardship but definitely not the refund I was hoping for lol. I just wonder now if maybe I have given duff info on the forms and don't want to query it with HMRC in case they fund more money I owe 😁😁
Just any help in whether this is usual or not?
Thanks in advance xx

Nearlyold

Which figure did you put on the R40 form? Have you mistakenly put the total refund you received - you should only be declaring the Interest Element of the refund.
Are you normally a Higher Rate Taxpayer or is your income close to the HRT threshold

vickiek

Ah I think that is it!!! Thank you so much, feel a lot better calling the HMRC tomorrow.