PPI Tax Claims: 2020 has been a brilliant year for our clients!
Seasons Greetings to all of Gowing Law’s clients! PPI and tax claims don’t usefully go hand-in-hand, but here we are! 2020 has been an unforgettable year. Covid-19 has made its mark upon the world and has left the UK with a serious backlog of court cases that will be hopefully sorted once the second lockdown is at its end.
Despite all the hardships that the UK has experienced this year, with Christmas approaching it’s time to consider the good things and how this pandemic has brought us all closer together despite being apart. Gowing Law has been focused on getting PPI tax claims sorted for the UK public. So far, we have actually managed to help our customers get around £10,000 in PPI tax Claims. We are ready to do the same for you.
Get an early Christmas present today from HMRC by getting in contact with Gowing Law Solicitors. Click the link below to visit our PPI tax claims page.
What do I need to know about PPI Tax Claims?
At first, PPI tax claims may seem a little intimidating. No one likes dealing with tax. However, in this case you could be entitled to a pay-out of £100’S and not even realize it! This is where Gowing Law can step in. We can help you get to grips with the basics of PPI tax claims so you feel confident about making your own.
Years ago, if you took out a financial agreement like:
- A mortgage
- A lending scheme
- A credit card
- A payment plan
You will find that you had to purchase a payment protection insurance (PPI) plan as a security blanket or perhaps you paid for PPI without even realizing it. Either way, the plan was mis-sold to a lot of people. In some cases, the amount people received to pay off their loans from PPI simply was not enough to cover the expenses. PPI was also sold to people who simply didn’t need it, such as those who were self-employed or were moving abroad to start a business.
So, when HMRC issued a refund, unfortunately not all of it may have been returned to the clients. Instead, it may have been taken away as PPI tax. This is where our trained solicitors can step in order to get the pay-out that you deserve.
Why was I charged PPI tax in the first place?
Like we said before, no one really likes dealing with any type of tax. It can get tricky with the paperwork. One wrong move and you may find that your claim is invalidated. Now, when HMRC organized for people’s PPI payments to be paid out to them, the pay-out was made of three things:
- A refund of your PPI
- Any additional loans/interest that the banks added to your PPI in order to have it paid off.
- A statutory interest of 8% that were added yearly to both of the previous sums.
The only thing out of those three categories that could be taxed is the statutory interest. Now, when you get your PPI claim back, it’s original purpose is to get you back to the amount you should have been at in your bank account. Therefore, if they believe that the amount you get is over your personal savings allowance (PSA) then they may deduct around 20% in tax in order to get you back to your original amount of savings.
This is why it could be time for you to make a claim in order to get your PPI tax back with the help of Gowing Law Solicitors.
Am I eligible to make a PPI Tax Claim?
Now that you understand why you may have been charged for your PPI, you need to figure out whether or not you are eligible to make a PPI Tax Claim. Naturally, Gowing Law Solicitors are here to help you figure this out. That way you can get the PPI tax pay-out that you deserve.
There are three factors that will decide whether or not you can make a claim. Check out the infographic below to get started:
Of course, there are some other factors that may affect your PPI tax claim. However, the majority of time if you fall into one of the categories above then you will be eligible to make a PPI tax claim. If you feel unsure about whether or not you do tick the appropriate boxes, get in contact with Gowing Law. Our solicitors would be more than happy to help you and get you started with your PPI tax claim.
How much could I get through a PPI tax claim?
When a solicitor is asked this type of question, the response tends to be similar to the quip ”how long is a piece of string?” This is because every case of financial mis-handling is different. Not only does it depend on how much tax you are paying, but it is also based on your PSA.
Whilst we can’t provide you with a detailed figure out how much you could be owed, for some people could be owed £100’s whilst others could be owed £1,000’s, here are some tax estimates:
How long will it take to make a PPI tax claim?
With the current delays due to Covid-19 and the backlog of court cases in the UK, you may have to be patient with your solicitor when it comes to your case. After you have submitted your form, it should take around 6-8 weeks to get your pay-out. That means it will be here just in time for the Christmas season. It’s the perfect holiday gift for you and your family. Spend it on yourself or use it for your Christmas shopping. Either way, it will put on a smile on your face when you finally get your cheque from HMRC.
Christmas has come early with Gowing Law Solicitors!
We understand that this year has not been the best for the UK and everyone else around the world. That’s why we have decided to start celebrating Christmas early and bring a little more joy to the life of our clients. The solicitors at Gowing Law always do their best to ensure that their clients get the best pay-outs for their clients. That’s why we will be running our #Betterinyourpocket campaign to make sure that we can get as many people as possible a PPI tax claim pay-out before the end of the Christmas season.
With our help, we can make sure that your PPI tax claim can run smoothly. There are so many benefits that can come with hiring a PPI tax lawyer. Instead of handling it on your own, and making mistakes that could invalidate your claim, our trained solicitors will make sure to leave no stone unturned to make sure that you get the money you deserve.
Additional benefits include your solicitors:
- Negotiating with HMRC on your behalf
- Filling out on tricky paperwork
- Taking on your claim even if you have already been rejected from HMRC
- Providing you with an easy form to fill out the basic details of your claim
- Consistent communication to inform you about how your claim is going
- Being honest with you and giving you information in a simple and digestible manner
Getting your PPI tax claim sorted can give you a pay-out that can be saved or used to enhance your Christmas. We all deserve a quick pick-me-up after this last year. Gowing Law Solicitors is here to make sure we put a smile back on your face.
Is Gowing Law doing anything else for Christmas?
We would always recommend that you keep an eye on our newsletter, blog and social media to see the latest updated about Gowing Law Solicitors. We have already started with our Christmas social media campaigns to make sure that you get the pay-out that you deserve with both PPI tax claims and Marriage Tax Claims. You should see those more often on Gowing Law’s social media. So, make sure to keep an eye on them.
Apart from that, we do have a number of giveaways, competitions, videos and fun blogs in store for you to keep you merry and bright throughout the Christmas period. That way, our solicitors can work on your claim whilst you relax and enjoy the holidays. So, when we finally arrive at 2021, you will feel like you are in a better frame of mind and are ready to have a better year than 2020.
Don’t forget about Gowing Law’s Loyalty Scheme!
Recently, Gowing Law has implemented a loyalty scheme for our personal injury claimants. If you have already worked with our solicitors before, you could be eligible to get involved in this scheme! To get involved, all you need to do is recommend a friend or family member to work with our solicitors. If we have a successful case with them, we will reward you with £300! All you need to do is fill out a quick form on our website, letting us know your personal details and the type of claim you had. We will also need to know who was originally involved in the accident.
By getting involved in our loyalty scheme, you also have the opportunity to take part in additional competitions and giveaways that are only available for our clients. We are currently developing a Loyalty Scheme App that you can easily download on your phone. These giveaways and competitions can gift you free vouchers, gifts and hampers. These freebies will hopefully give you something to look forward to on a daily basis, as we intend to fully reward you for working with our lawyers.
Keep an eye on our website to learn more about the scheme as it develops. That way you can be the first to be involved when we finally get the scheme up and running.
Let’s share the Christmas Spirit: Get in contact with Gowing Law today!
PPI tax claims can be complicated without the help of a solicitor to guide you through them. Gowing Law Solicitors can help you take control of your PPI tax and make sure that you can have a little extra spending money for Christmas. We can offer you free advice and consultations to get started. If you are happy to work with our solicitors, we can get your PPI tax claim started on a “no win-no fee” basis. That means there will be no hidden fees and you will always come out on top with your claim. Even if you do not win then you will find that you will not need to pay our solicitors.
To get started, feel free to fill out our form on our PPI tax page or get in contact with us. Phone us on 0800 041 8350 or email us on info@gowinglaw.co.uk. You can also use our claims checker. Once you message us, one of our specialists will get in contact in order to start you on your claim. Feel free to let them know if you have any questions you would like answered.
Read our blog to learn more!
Make sure to keep reading Gowing Law’s blog to keep updated about the latest blogs about UK law, the basics of claims or our seasonal updates. Our latest content is created on a weekly basis to ensure that our readers have something new to entertain themselves with. We always speak about our latest competitions and giveaways on our blog. That way you can keep in contact and find out what new things could be won by getting involved.
If you cannot find a topic that answers your questions, why not let us know? We are always willing to take your suggestions on board. Feel free to send them via our email, info@gowinglaw.co.uk. You can also get in contact to sign up to our weekly newsletter. Make sure to also keep an eye on our socials which we have linked below.
We wish you a Happy Christmas and look forward to seeing you in our next blog.
