claiming ppi tax when employed and self employed

Booboop123

Hi, I keep getting emails about claiming my tax back on some ppi over 2 financial years.  Not sure i can claim one as its late 2019 but the others are late 2020.  Its not a huge amount so i wanted to try doing it myself instead of using a company that will basically take most of it
I am employed(bulk of my wages) and self employed so do i claim through my self assessment?  Not sure if it will make a difference but as it was in the middle of covid rules my earnings were low so i didn't pay tax that year. 
Any help will be appreciated , thanks.

Brie

Don't know about the self assessment but I do know you're doing the right thing to avoid the company(s) that have been emailing.  Many of them apparently get you to sign up for the PPI claim but have it worded so they get a cut of any future tax refunds as well.  

Dazed_and_C0nfused

Booboop123 said:

Hi, I keep getting emails about claiming my tax back on some ppi over 2 financial years.  Not sure i can claim one as its late 2019 but the others are late 2020.  Its not a huge amount so i wanted to try doing it myself instead of using a company that will basically take most of it
I am employed(bulk of my wages) and self employed so do i claim through my self assessment?  Not sure if it will make a difference but as it was in the middle of covid rules my earnings were low so i didn't pay tax that year. 
Any help will be appreciated , thanks.

Do you mean you have filed Self Assessment returns and failed to include the taxable interest received as part of the PPI refund?

If so the time limit for your to amend your returns (for either 2019-20 or 2020-21) had passed so the only option you have now is to make a claim for overpayment relief.

This is a bit more involved than amending your return but there is an explanation of what you have to do is on gov.uk

If you weren't paying tax in either year then unless it's a very large amount of interest you are likely to be due all the tax back.

DullGreyGuy

If you are self employed then you are doing tax returns and therefore will have already reclaimed it as you'd have entered the interest on your SA noted any tax deducted and it would have been calculated out for you. 

Dazed_and_C0nfused

DullGreyGuy said:

If you are self employed then you are doing tax returns and therefore will have already reclaimed it as you'd have entered the interest on your SA noted any tax deducted and it would have been calculated out for you. 

In a perfect world 😉

DullGreyGuy

Dazed_and_C0nfused said:

DullGreyGuy said:

If you are self employed then you are doing tax returns and therefore will have already reclaimed it as you'd have entered the interest on your SA noted any tax deducted and it would have been calculated out for you. 

In a perfect world 😉

In a compliant world... likewise you dont have to wait for a perfect world to remember to include all your sales in your declarations too.