Ppi tax form please help SORTED THANKS updated

tkwad

Hi
Trying to reclaim tax deducted from ppi claim.
Help please 
1/ if  I received payment july 2020 is it a claim for tax year 4th april 2021?

I am a non worker. I have filled out 0.00 income until the intetest section.  Do you receive incone from uk intetest?
Answer yes
I have filled out the statutory conpensation amount in box where it states "net intetest paid by banks etc inc ppi

I have filled in the tax deducted in the tax deducted box

I have filled 0.00 in box gross interest paid...is this wrong?
Really hoping to do this myself but unsure? 
Thanks in advance 

Dazed_and_C0nfused

1.  No, it's the tax year to 5 April 2021

2.  You should have 3 entries for the taxed interest

Gross
Tax deducted (20% of the gross)
Net interest (gross less tax)

Did you receive any untaxed interest i.e. from a bank or building society?

Being a "non worker" isn't really relevant.  What other taxable income did you receive in the year to 5 April 2021?

What about your self employment mentioned in other posts?

tkwad

Thanks for your reply. 
Now off to work out if the  figure on my award letter is the gross or net figure 🤔
If i x it by 20% it gives the tax deducted figure.

Dazed_and_C0nfused

For statutory interest paid alongside PPI refunds tax is always 20% of the gross interest.

And the net interest is always 80% of the gross interest (100 - 20 = 80).

tkwad

Form submitted, tracked by hmrc app, shows as R40 sub with a tick and done.
No refund received as yet. 

tkwad

tkwad said:

Thanks for your reply. 
Now off to work out if the  figure on my award letter is the gross or net figure 🤔
If i x it by 20% it gives the tax deducted figure.

Thanks for your help. Refund received and cleared in the bank.