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Adam Hunt
Adam Hunt, Accountant
Category: Tax
Satisfied Customers: 240
Experience:  FCCA, FFA, FFTA
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I stopped working in April 2014 but am not sure what is

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Hello. I stopped working in April 2014 but am not sure what is happening with my national insurance or whether I have to pay tax or not. I have not worked since April 2014 and do not receive any benefits. Do I have to pay tax or not?
JA: Have you talked to a tax professional about this?
Customer: No I haven't as I'm out of my depth and do not understand
JA: Anything else you want the Accountant to know before I connect you?
Customer: No I don't think so.

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.

Customer: replied 3 months ago.
Thank you. I have received an offer re PPI on my mortgage - do I have to pay the tax on that?

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?

Adam Hunt and other Tax Specialists are ready to help you
Customer: replied 3 months ago.
you have. Thank you

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