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Taxed on PPI repayments
in Reclaim PPI & other insurance
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If that is true then why would you expect to be due any tax refund?
It is sounding more and more likely you have not completed the R40 correctly.
For example from Halifax:
So is it right I would be claiming the £44.51 back from HMRC?
Given the title of the form on r40 (reclaim tax deducted from savings and investments), it should be intuitive to answer yes.
Remember if you have more than one PPI claim for the same year to add them all up. And also include any other interest you received/expect to receive (perhaps from bank or building society accounts)
You are declaring your total taxable income, and tax deducted, to HMRC in order that they can review your tax position for the tax year in question. You may well be due a refund of c£42-43. Or the whole £44.51. or you could owe an extra £44.51.
Unless you disclose everything you have entered on the R40 no one can know for certain.