R40 for several refunds

Walruswalrus

I am a little confused. I received 2 ppi payouts in Nov 19. Do I complete 2 separate r40 forms or how to I complete the details. 
Thank you

dunstonh

Your tax position is measured over the tax year.  So, it is your total in the tax year that matters. Not each event.   Hence one form.

Walruswalrus

Thank you, so I just add it all up. Is it worth me sending copies of the refund received showing the calculations. 

Dazed_and_C0nfused

Walruswalrus said:

Thank you, so I just add it all up. Is it worth me sending copies of the refund received showing the calculations. 

Definitely.  A few posters have mentioned being asked for copies of the refund details by HMRC.

I suspect that is because they may have declared non taxable income (the PPI refund itself) as well as the taxable income from the PPI refund (the statutory interest).

Walruswalrus

Thank you 

Philwad

I have made an application using firm R40 as suggested but received an immediate response that I had missed the deadline of 31 January 2020 for the 2017/18 tax year when the PPI interest was received.  HMRC have suggested seeking overpayment relief, but they said they can’t accept claims made on a Self Assessment tax return. I therefore appear to be stymied.  Has anyone encountered this and should I just seek overpayment relief regardless of my Self Assessment return and see what happens?

Dazed_and_C0nfused

Philwad said:

I have made an application using firm R40 as suggested but received an immediate response that I had missed the deadline of 31 January 2020 for the 2017/18 tax year when the PPI interest was received.  HMRC have suggested seeking overpayment relief, but they said they can’t accept claims made on a Self Assessment tax return. I therefore appear to be stymied.  Has anyone encountered this and should I just seek overpayment relief regardless of my Self Assessment return and see what happens?

No idea why you used an R40, that form doesn't apply to people who have completed Self Assessment returns (for the tax year in question).

You are too late to amend your Self Assessment return (assuming you did actually fail to declare the taxable interest in the first place) so your only option is make a claim for "overpayment relief".

If you Google it you should find a page on gov.uk which explains how you make a claim.