PPI tax refund

arles417

I received 2 PPI refunds in 2019 and I cant remember who from and cant locate any letters from the institutions. I have the bank deposits into my bank but that it. So my thought is to contact my bank to find out where the cheques came from and then contact the issuers for the info on my pay out. Anyway does anyone have any advice on this?

Dazed_and_C0nfused

You need the breakdown of the payout to be able to claim any tax refund.

Only the statutory interest element is taxable and only that element has tax deducted.

The PPI refund itself is not taxable and does not have tax deducted.

msb1234

Be aware - I put in a claim for my PPI statutory savings tax back a couple of weeks ago - today I’ve had a letter from the lovely folks at HMRC telling me I owe THEM money as I have already had a refund via a tax code adjustment in 2017/18 which I had forgotten about - my PPI refund was in 2016/17 - but they didn't take enough as my income with the statutory interest fell into the higher tax bracket!!! They thanked me for submitting the correct details. 
Talk about annoyed!!!!!

arles417

Thanks MSB, I'm going to leave it, I don't need to cause myself any more problems at the moment.