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PPi tax



Comments
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PPI refunds aren't taxable and do not have tax deducted from them.
Statutory interest paid alongside PPI refunds is taxable and does have tax deducted from it.
You probably need to post the full details to understand exactly what is relevant for tax purposes.
You may be eligible to claim some or all of the tax back from your share but no tax refund is due in respect of your late husband.0 -
Dazed_and_C0nfused said:PPI refunds aren't taxable and do not have tax deducted from them.
Statutory interest paid alongside PPI refunds is taxable and does have tax deducted from it.
You probably need to post the full details to understand exactly what is relevant for tax purposes.
You may be eligible to claim some or all of the tax back from your share but no tax refund is due in respect of your late husband.I have tried to attach some images, but I cant seem to do it0 -
You need to look for two figures, one of which is 20% of the larger one.
Possibly referred to as statutory interest or compensation.
For example £457.00 and £91.40. £457.00 would be the taxable interest and £91.40 (20% of the £457) the tax deducted.0 -
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Dazed_and_C0nfused said:PPI refunds aren't taxable and do not have tax deducted from them.
Statutory interest paid alongside PPI refunds is taxable and does have tax deducted from it.
You probably need to post the full details to understand exactly what is relevant for tax purposes.
You may be eligible to claim some or all of the tax back from your share but no tax refund is due in respect of your late husband.
this is the redress I dont understand
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The bottom table on 3 seems to have the relevant information.
But that doesn't show if that is for you, your late husband or is joint. You need to know that before you can complete the R40 form.0 -
Hi, I wonder if anyone on here can help me please? I have claimed back PPI from the RBS and I have received my payouts over 7 different claims, seem to be spread 2013 and 2020. I need to know if I can claim the interest back between 2018 and 2020 please? The details the RBS have provided me are set out as follows: Purpose of Payment Statutory interest paid in relation to Payment Protection Insurance Statement Of Deduction Of Tax
Year to: 05/04/2018
Payment Date: 24/04/2017
1. Gross Interest: £39.15
2. Income Tax Deducted (20%): £7.83
3. Net Amount Paid or Credited: £31.32
Can you tell me by looking at the above information whether I am able to claim some tax back please?
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How much in total did you receive in interest in that tax year?0
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grahamm123 said:
Hi, I wonder if anyone on here can help me please? I have claimed back PPI from the RBS and I have received my payouts over 7 different claims, seem to be spread 2013 and 2020. I need to know if I can claim the interest back between 2018 and 2020 please? The details the RBS have provided me are set out as follows: Purpose of Payment Statutory interest paid in relation to Payment Protection Insurance Statement Of Deduction Of Tax
Year to: 05/04/2018
Payment Date: 24/04/2017
1. Gross Interest: £39.15
2. Income Tax Deducted (20%): £7.83
3. Net Amount Paid or Credited: £31.32
Can you tell me by looking at the above information whether I am able to claim some tax back please?
Too little info to go on.0 -
Hi again. I have attached a document without my name on but the details of a PPI claim. Can someone tell me whether I can claim any tax back please?
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