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R40 Online form status "completed"- what next?
in Reclaim PPI & other insurance
12 replies 138 views
Hi I submitted an R40 for my PPI income tax on 30 March this year and have just checked. The form status has changed from submitted to completed. But how do I find out what the decision is please? Thank you
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If you haven't signed up for digital correspondence then you would be sent a calculation though the post.
What did you declare on the R40 in respect of the PPI related element?
Were you a higher rate payer in the tax year you claimed for?
That will show your total taxable income and hopefully separate out the interest you declared on the R40.
Can you post the figures from that?
The amount submitted Gross £3336.94 Tax £667.39 Net Interest paid £2669.55. Basically it looks like I've clipped the higher tax bracket.
But if you are due to pay some help gher rate tax on the interest then yes you could owe money rather than get a refund.
I'm sure Jeremy Hunt will thank you for your honesty 😉