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Hi, I am one of the experts. If you have not earned any money since April 2014 and also no benefits. Then you have nothing to declare to HMRC. So, therefore, there is no NI or Tax payable at all. Hope I have answered your question.
Yes specially interest is taxable.
Yes interest element is taxable. Just thought to further clarify. You can also ask about it to the person who is helping you get PPI.
Hope now I have answered your question?
Thank you so much.
Please take a look on to this link as is giving me details about taxable element. https://www.gov.uk/hmrc-internal-manuals/savings-and-investment-manual/saim2105