0161 541 2760 info@claimmytax.co.uk

YOU MAY BE OWED TAX BACK ON PPI PAYOUT’S INTEREST!

•  If you received a payment for mis-sold PPI you could be eligible for a PPI tax refund!

• The tax was automatically deducted, even though most people didn’t need to pay it.

• In April 2016 the personal savings allowance was introduced which allows taxpayers to earn up to £1,000 a year tax-free on their savings which includes the statutory interest paid on PPI claims.

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Were you classed as a high rate tax payer when you received your refunds?

Were you self-employed in the year the refunds were made?

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Please advise of the year in which you received your refunds?

In the year you received your refunds what was your annual salary from employers before tax?

In the year you received your refunds were you receiving a state pension? If yes how much did you receive per year?

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In the year you received your refunds were you receiving a private pension? If yes how much did you receive per year?

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In the year you received your refunds were you receiving any taxable state benefits? If yes how much did you receive per year?

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We are just checking if you are eligible to be accepted for a rebate.

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Good news.. based upon the details so far you are likely to be accepted for a rebate.

To enable HMRC to locate you on their system can you please provide your National Insurance Number?

Good news.. based upon the details so far you are likely to be accepted for a rebate.

Please provide us with your date of birth

Your Details


Thanks, your forms are on the way

These will be sent to you via email and also via SMS

The next stage will be for you to review the documents and if you are happy to proceed, simply sign the online documents and we will pursue the rebate for you.

Once the documents have been signed and returned you will receive an email and a text confirmation which will also have our information and the next steps of the process.

Just to make you aware our highest rebate to date is over £3500!

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Sorry you dont qualify.

Unfortunatly high rate tax payers do not qualify for this service. Alternativly if you think we have got something wrong then call our team on the number below:

0161 541 2759

Speak to our team.

Self employed claims add a layer of complexity which we would rather deal with directly. Its important that we understand your specific situation. Call the number below to continue with this process:

0161 541 2759

What is a PPI Tax Rebate

On 6 April 2016 the personal savings allowance (PSA) launched. It allows basic 20% rate taxpayers to earn up to £1,000 a year of savings interest tax-free, higher 40% rate taxpayers can earn £500 and top 45% rate taxpayers don’t get anything. The statutory interest from PPI pay outs counts within your personal savings allowance.

Yet unlike savings which are now paid without any tax taken off, PPI pay outs still automatically have 20% tax deducted before you received it. So if, like most people, you haven’t earned over your PSA in the year your PPI claim was repaid, then you can claim it back.

AM I ELIGIBLE?

The PPI payout is taxed in the year it is paid, so even if you took out a PPI policy in, say, 2004, if it was repaid in 2016, it’s that later tax regime that counts.

If you were a non-taxpayer in the year the PPI was paid out (eg, currently that means those earning less than the £12,500 personal allowance), unless the statutory interest pushes you over the taxpaying threshold, you can claim all the tax back.

WHY WAS THIS TAXED IN THE FIRST PLACE?

The refund of the PPI premiums isn’t taxable, but if 8% notional interest has been added to your refund, this is treated like interest you have received on savings and it is taxable income and tax will have already been taken at source.

CAN ANYONE CLAIM?

Unfortunately you can’t reclaim tax on payouts received before 6 April 2016 You can only reclaim PPI tax going back four tax years, as well as the current one. So as the 2020/21 tax year has kicked in, that means the furthest you can go back is the 2016/17 tax year.

Why Use claim my tax?

No Hidden Fees

Here at Claim My Tax we recognise that many people worry that using a tax rebate company means uncertainty about what they will pay. We promise that the price we say is the price you pay.

Customer Focused

Our main priority is the satisfaction of our customers. We constantly review our processes to ensure our customer's needs and preferences are met, this enables us to give customers the best possible experience.

Peace of Mind

At Claim My Tax we offer peace of mind and reliability with our services. We know when it comes to your money you want to be sure you are getting the best service possible. We do not ask for bank details until we have won your case.

What to Know more?

Request a Call Back?

Get in touch with our friendly, dedicated team today!

PPI Tax rebate faqs

Get in touch with our friendly, dedicated team today!

HOW MUCH WILL I GET BACK?

It varies hugely depending on the size of your PPI pay out and when you took out the loan.

HOW WAS PPI MIS-SOLD?

Up until 2012, if you went to the bank to take out a loan, finance deal for your car, or a credit card, then there’s a chance you’d have been sold PPI.

Banks and other financial institutions often explained PPI poorly, missing key details such as what it covered, whether the customer really needed it and whether or not they’d be able to make a successful claim.

In some cases, banks simply added it to loans without customers’ consent.

DO I HAVE TO GIVE MY BANK DETAILS?

We will not ask you for your bank details until we have your payment from HMRC. The reason we then ask you for them is to bank transfer your payment. If you still do not want to give us your bank details we can send you a cheque.

Our Address

28 Orchard Road
Lytham
St Annes
Lancashire
FY8 1PF

Claim My Tax LTD

Registered with the Information Commissioners Office; registration number: Z5242078.

Registration Address: 28 Orchard Road, Lytham, St Annes, Lancashire, FY8 1PF. Company Number: 10858545

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