Fillinging PPI R40 caim form

Owen76

Hi,
Could someone help me out with what the HMRC is after, I filled in the R40 formand ave had a letter back asking for me to resubmit the form and there are now asking for the Gross PPI figure, the Net total and the amount of tax paid?
All I have is the original email from the claim company that won my claim and it just says redress £1411.93 and there fee £338.86?
Can anyone tell me what figures the HMRC are after?

Thanks

Dazed_and_C0nfused

Owen76 said:

Hi,
Could someone help me out with what the HMRC is after, I filled in the R40 formand ave had a letter back asking for me to resubmit the form and there are now asking for the Gross PPI figure, the Net total and the amount of tax paid?
All I have is the original email from the claim company that won my claim and it just says redress £1411.93 and there fee £338.86?
Can anyone tell me what figures the HMRC are after?

Thanks

They want details of the statutory interest that was paid alongside the PPI refund.

The PPI refund isn't taxable and doesn't have any tax deducted, only the interest is relevant for HMRC.

What you should find is that whatever the gross interest is then the tax is 20% and the net is 80% (gross less tax).

For example,

Gross Interest £100
Tax deducted £20
Net interest £80