PPi tax

Dazed_and_C0nfused

Same answer as last time, you could be due the whole amount back or have to pay the same again.

No one can help you unless you are going to tell us more about your overall taxable income in the years concerned.

[Deleted User]

grahamm123 said:

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?

You need to remember that PPI refund interest is just like savings interest, hence why people are asking. If you had £0 in savings interest every year, you could claim it all back. If you had £1000 of interest, you might owe them money

grahamm123

grahamm123 said:

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?

Retiredwelshman said:

How much in total did you receive in interest in that tax year?

Hi RetiredwelshMan

It totals just over 19k. Any further ideas please?

Dazed_and_C0nfused

grahamm123 said:

grahamm123 said:

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?

Retiredwelshman said:

How much in total did you receive in interest in that tax year?

Hi RetiredwelshMan

It totals just over 19k. Any further ideas please?

Most people can have interest of £18,500 before any tax is due on it but that figure reduces if you have earnings (wages, pension etc).

Until you are prepared to tell us more about your total taxable income for one of the tax years you have given the PPI info for no one can help you.

Retiredwelshman

grahamm123 said:

grahamm123 said:

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?

Retiredwelshman said:

How much in total did you receive in interest in that tax year?

Hi RetiredwelshMan

It totals just over 19k. Any further ideas please?

So you are saying that you received £19000 in INTEREST for that tax year?
In that case you are a millionaire so why bother with £7?

Dazed_and_C0nfused

Retiredwelshman said:

grahamm123 said:

grahamm123 said:

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?

Retiredwelshman said:

How much in total did you receive in interest in that tax year?

Hi RetiredwelshMan

It totals just over 19k. Any further ideas please?

So you are saying that you received £19000 in INTEREST for that tax year?
In that case you are a millionaire so why bother with £7?

And they would already be having to complete a Self Assessment return (due to interest exceeding £10k), from which any refund due would be established.

[Deleted User]

grahamm123 said:

grahamm123 said:

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?

Retiredwelshman said:

How much in total did you receive in interest in that tax year?

Hi RetiredwelshMan

It totals just over 19k. Any further ideas please?

Again, please post the correct figures with a full break down. Do you mean you had a refund of PPI of say £50k and had £19k interest or do you mean you had a PPI refund of £19k some of which was interest?