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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4973
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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My question is; I have a successful claim through a

Resolved Question:

my question is; I have a successful claim for PPI through a 3rd party.
Its the tax part I need clarification on?
What is the rate is?
Also can I claim the tax part back from HMRC?
Submitted: 1 year ago.
Category: Tax
Expert: replied 1 year ago.
Thank you for your question...Any interest paid over and above the compensation amount is subject to tax deduction at source at basic rate of 20%.Any interest due will be calculated at 8%.More information on this can be found here If you are a non taxpayer, you can claim tax deducted by completing Form R40. YOu can download it from here I hope this is helpful and answers your question.If you have any other questions, please ask me before you rate my service – I’ll be happy to respond. and other Tax Specialists are ready to help you
Expert: replied 1 year ago.
I thank you for accepting my answer.
Best wishes.

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