PPI 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.
3 super easy steps to claim back what you could be owed
Application
Analysis
Tax Submission
- NYou received a PPI Payment after April 2016
- NYou earn less than £50000
- NYou have not been declared bankrupt, or in a debt management scheme
- NYou are not self-employed
- NYou have not already claimed your PPI Tax refund
Partnership
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.
Quick and easy Process
Dedicated Accounts Team
High Success Rate
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.
Frequently Asked Questions
Why have I not received a Claim Pack
If you have waited for more than 7 days after asking for a pack in the post, you can either:
- email us at ppitax@claimlionlaw.com and we can arrange for your forms to be re-sent to you
- or download the Pack from our site.
Are the forms complicated?
The first thing you will receive from us will be your Letter(s) of Authority. These forms allow us to contact your lender to start the PPI Check process.
If we need more information, we will contact you. We have a dedicated web page for providing further information and will direct you there for quick and easy process. If we need something more bespoke we will email you or call you directly.
Can you help me complete the forms?
What are your fees?
Our fees are 35% + VAT of the total settlement. If we are unsuccessful there will be no charges whatsoever. For more information around fees please see out terms and conditions here
How Long will the process take?
I have returned my pack but not heard anything from you?
How do I know what is going on with my claim?
Why do you need my National Insurance Number?
I cannot find my National Insurance Number, can you help?
If you are still unable to find your National Insurance Number then you will need to either call HMRC and answer a few simple questions, or Complete a CA5403 form and send it to HMRC. The first option is the fastest, but should you not be able to answer the questions, then a form will need to be sent. We can help you with this.
I have received a letter from HMRC saying my claim has been successful, what do I do?
Once the cheque is banked and the money released to us we will send you either a cheque, or make a bank transfer to your nominated account. This process should not take longer than 14 days, but on occasion it can take a little longer. Please be aware that we cannot release money unless you have passed our anti Money Laundering Checks.
Should you received a cheque, we will be notified and we will contact you regarding our fees.
