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Making a PPI tax claim in 2021 may be the furthest thing from your mind right now. We understand. It’s a brand new year and Gowing Law wants to make sure that you start off the year on a good note. For some, they may be more worried about Covid-19 and how tier 4 may affect their livelihood. But others may be more concerned about the arrival of Brexit and how it’s going to change the world of work, travel and their daily lives. But for us, our main objective this year is to get our clients the money back that they have lost when paying tax on their PPI claim.

So far, we have been able to help people all over the country claim back their PPI tax that may have been automatically deducted from their overall pay-out. In 2020 alone, this has rounded up to around £10,000 in rebates! That’s why Gowing Law’s Solicitors are determined to do the hard work to get you a successful PPI tax pay-out in 2021. You can put away the money for a rainy day or use it to treat yourself. The choice is entirely yours!

Click the link below to visit Gowing Law’s PPI tax claim page and start your journey with our helpful lawyers today. You can also call us on 0800 041 8350 to get advice from our solicitors on how you get started.

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Am I eligible to make a PPI Tax Claim in 2021?

For the last year, Gowing Law has been working tirelessly to get our clients a successful PPI tax claim where they can get their money returned from HMRC. However, now that 2021 has rolled around, you may be worried about whether or not you could be eligible to make a PPI tax claim yourself. All tax claims have a limit on them. Whether you are looking to claim back the tax on your PPI or you are interested in making a marriage tax claim, you should have around 4 years from the previous tax year from when the over-payment occurred. Have a look at our example below to understand how the timeline works:

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Am I eligible to make a PPI Tax Claim in general?

To understand whether or not you are eligible to make a PPI tax claim, you need to know about the background of PPI claims in general. PPI stands for “payment protection insurance.” Originally, it was used as a safety net for those taking out financial payment schemes. This included credit cards, lending schemes and catalogue payment plans. If you got ill or did not have the money to pay back what you owed, your PPI would be able to cover you until you got the funds needed to clear your debt.

However, in the majority of cases, the PPI scheme did not provide enough money to cover the payments. In fact, in most cases it was simply mis-sold. Most people:

  • Did not realize they were sold PPI
  • Were pressurized into buying a PPI plan
  • Had the plan inserted into their payment policy without being told
  • Received a policy that did not suit their financial needs (i.e. they were self-employed or were working abroad.)

These mis-sold policies usually meant that people were losing more money that they realized. That is why the government allowed people to reclaim this money that they had lost by purchasing a PPI policy. The problem came from the fact that HMRC issued a refund but took away tax, meaning that clients did not get the full amount they were owed. To be eligible for a PPI tax pay-out in 2021, have a look at the criteria below.

Are you eligible for a claim?

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If you feel a little confused about whether or not you are eligible to make a claim, the best way to find out more is to speak to your solicitor about your eligibility. Every financial situation is going to be different. That’s why it’s best to go to someone who has the legal experience necessary to let you know whether (or not) your claim is worth pursuing. Gowing Law Solicitors will make sure you understand exactly what you are owed and how you can claim it back.

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Why did I have PPI tax taken away from my PPI pay-out in the first place?

If you have been mis-sold PPI, and did not get the full amount returned to you, you may be considering whether or not you can make a successful PPI tax claim. Your PPI pay-out consisted of three things. These were:

  • The amount you paid for your PPI
  • Any additional interest that was added to your PPI payments
  • A tax of statutory interest that wad added at 8% every year to both the PPI payments and PPI payment interest

The pay-out you received was supposed to help you get back to the original amount you were at. However, if you did not go over your personal savings allowance (PSA), then the bank may have automatically taken away tax without realizing you did not go over your limit. Only your statutory interest can be taxed. That’s why 20% of your payment may have been taken away. However, you can claim this back with the help of one Gowing Law’s tax specialists.

Living abroad and making a marriage tax claim

Could I get a big pay-out from making a PPI tax claim?

It is possible that you could get £1000’s from your PPI tax claim. However, it is important to remember that the amount you get does depend on how much you paid in. Everyone’s financial situation is different. It also depends on your tax band and statutory interest that you paid in. Have a look below to see an estimate of how much you could be paid through your PPI tax claim, depending on your tax bracket:

  • Top Rate Payers: If you pay around 45% in tax, you are not eligible for a PPI tax claim.
  • High Rate Payers: If you pay around 40% in tax, you could claim around £500, tax-free.
  • Basic Rate Payers: If you pay around 20% in tax, you could claim around £1,000, tax free.

Even if you have been rejected before for a PPI tax claim by HMRC, you could be owed money that you will need a solicitor to help you claim back. A solicitor can help you estimate how much you could be owed and how you can quickly get your payment back. Just keep in mind that it may take a little longer due to the current UK court backlog.

Could the current pandemic interrupt my PPI Tax Claim?

As tier restrictions will cause problems for most people around the UK, you may feel a little worried that the pandemic may interrupt your PPI tax claim. Covid-19 has already taken its toll around people in the UK. They have lost their jobs, suffered from Covid-related work accidents and have had loved ones pass away. You may be focusing on writing your own will and may think that right now the best thing to do is just to keep to yourself and wait for the pandemic to blow over.

That’s fine if you want to do that. However, if you have a PPI tax claim in the works, you don’t need to worry. Working with Gowing Law can mean that your tax claim will progress as planned. All of our staff are working remotely, that means they can keep helping you with your claims without putting themselves (or you) at risk. The only difference is that it may take a little longer to process your claim due to the delays with HMRC, the banks and the court system. Be patient and keep in contact with your solicitor. They will make sure to alert you when your cheque comes in and let you know if there are any additional delays.

r40 forms and Gowing Law Solicitors

Can a solicitor help me with my PPI tax claim?

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One of the things that we value as a professional Manchester law firm is simplicity. We understand that tax claims can feel extremely complicated if you do them on your own. You may feel nervous about making mistakes that may invalidate your claim, especially if you have little legal experience again. That’s why we would highly recommend that you get in contact with our firm to get your PPI tax returned to you quickly and efficiently.

We have made the PPI tax claim process simple for all of our clients. All you need to do is fill out a few details and then let your lawyer fill out the R40 form for you. They can even work with HMRC on your behalf and keep you updated about when your cheque will be sent out to you.

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What could invalidate my PPI tax claim?

Unfortunately, there are a few ways that you could invalidate your PPI tax claim. This includes accidently writing the wrong figures on your R40 form. It could also include not providing specifics about your tax bracket or how much you earn. You may also have to provide information about your wage. This includes how much you paid for your PPI and evidence. The evidence can prove you were unfairly taxed as you did not go over your PSA.

By having a tax specialist fill out the form for you, and give you guidance and advice on how to get a successful PPI tax claim, you can simplify the process. That way you can feel at ease that you will get the pay-out you deserve. All of Gowing Law’s solicitors are experienced and know exactly how to help their clients get their money returned to them quickly and efficiently. Just let our solicitors know how they can help you and you can both get started on your PPI tax claim journey together.

Get in contact with Gowing Law Solicitors about your PPI Tax Claim

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Gowing Law Solicitors are here to help you with both your marriage and PPI tax claim. All you need to do is message us to get started! Our tax claim experts are experienced lawyers and want to get you the highest amount of compensation possible. They can offer you free advice and consultations to get started. These will be handled remotely so you can remain safely at home. If you are happy to work with us, feel free to let us know. We can offer you our services on a “no win-no fee” basis. That means you will always come out on top and you will never need to worry about any hidden fees. If we win your case, we will let you know how much you need to pay for our services.

Contact us now by phoning 0800 041 8350, emailing or by using our claims checker. From there, one of our specialists will be in contact to help you through the process. You can also fill out our PPI self-assessment form or use our LiveChat to speak to us directly. We will try to get back in contact with you as quickly as possible about your claim.

Learn more about Claims from Gowing Law

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We are very proud our law blog! Every week we update it with the latest information about legal claims, UK policies and seasonal updates. We have many other blogs that discuss PPI Tax Claims in great detail. So, make sure to scroll through our blogs to find the right content for you! If you cannot find a topic that interests you, let us know. We will write up a blog about your questions. Feel free to send us your suggestions to You can also follow our social media to learn about our latest giveaways, competitions and seasonal events.

We wish you the best of luck with your PPI tax claim. Gowing Law looks forward to seeing you in our next blog. Happy 2021!

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Gowing Law are a professional law firm that specialises in the personal injury sector of the industry. Gowing Law are Authorised and regulated by the Solicitors Regulation Authority (SRA).

Gowing Law are trusted by the people who they have helped in sucuring the compensation they deserve, with fantastic reviews across all review sites including Trustpilot & Google Reviews.

Gowing Law is law firm based in Manchester but offer their legal services nationwide. We specialise in the personal injury claims and our team of solicitors have the experience and expertise needed to handle your case and help you through the claims process.

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