PPI Tax Refund Claims

PPI Tax Refund Claims

Tax reclaims

Millions of people have enjoyed successful PPI claims with many millions paid out by lenders over the years, ClaimLion Law has contributed to this number over the last 10 years. The deadline for making PPI claims passed on 29 August 2019, but a further claim can be made for the repayment of PPI Tax which was automatically deducted by the lender when the PPI claim was settled.
This claim can be made on each refund you received in the last 4 years and could be worth £1000s.

How It works

You get statutory interest (at 8% a year, but not compounded) on the total of both those sums, for each year since you got the PPI. This element of your refund is liable to be taxed (usually at 20%).

However, in April 2016 the ‘personal savings allowance’ was introduced by HMRC which allows taxpayers to earn up to £1,000 a year tax-free on their savings. This included the statutory interest paid on PPI claims.

Since then, while most savings interest has been paid ‘gross’, ie, without any tax being taken off, PPI still has 20% automatically deducted by the banks at source.

Our Partner

We have partnered up with a leading calculation and Tax specialist. If you do decide to pursue a claim, we have negotiated that they will initially pursue your claim for FREE, you will only be charged if they are successful.

 

The benefits of using our Partner:

  • No Win No Fee,
  • Online process so it can be completely paperless unless you prefer a physical claim pack,
  • Receive your money within 8 weeks,
  • Lowest Fees in the industry if they are successful.

Start your claim here

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No Win No Fee

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92% Success rate

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Average claim £3580

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