R40 Online form status "completed"- what next? 16 May at 9:34AM in Reclaim PPI & other insurance 12 replies 138 views

QandAfromMyBrain

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

dunstonh

You wait until you get the response.

QandAfromMyBrain

dunstonh said:

You wait until you get the response.

Thanks - do you know if this will be posted online or via a letter? 

Dazed_and_C0nfused

QandAfromMyBrain said:

dunstonh said:

You wait until you get the response.

Thanks - do you know if this will be posted online or via a letter? 

Assuming a refund is due then you will get whichever matches your preference.

If you haven't signed up for digital correspondence then you would be sent a calculation though the post.

QandAfromMyBrain

Dazed_and_C0nfused said:

QandAfromMyBrain said:

dunstonh said:

You wait until you get the response.

Thanks - do you know if this will be posted online or via a letter? 

Assuming a refund is due then you will get whichever matches your preference.

If you haven't signed up for digital correspondence then you would be sent a calculation though the post.

Thanks - I have an inbox on my account but I got no notification that my application had changed status to completed which is why I'm trying to find out what's going on. I kinda assumed that completed meant a decision had been made and so I'd be told what that was right away. Maybe that was a bit optimistic!

JoeDransfield

Hi, I submitted my r40 about a month back and have received a letter stating that they have checked the figures and that I apparently have not paid enough tax for that year and now they want to adjust my tax to reclaim the money. They've not stated how much and that it will be detailed in another letter. I was taxed around £500 ish on my PPI claim. I'm PAYE so I really don't understand how this could be ?

Dazed_and_C0nfused

@JoeDransfield

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?

JoeDransfield

Rather stupidly I didn't screenshot what I entered and I can't see a way of getting back to the form. As for the higher rate, honestly, I've not got a clue ? I only completed the form after seeing the info come through on an email and my partner said I should do it as it's better in my pocket......... Oh the irony of that statement is not lost on me

Dazed_and_C0nfused

Have you received a P800 calculation?

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?

JoeDransfield

The only thing I have is a P60. I've received the letter from HMRC and they've calculated that I owe £496.61
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.

Dazed_and_C0nfused

JoeDransfield said:

The only thing I have is a P60. I've received the letter from HMRC and they've calculated that I owe £496.61
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.

If it's not a P800 (or PA302) then what exactly is the letter you've received 🤔.

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 😉