Making a PPI tax claim can sound more daunting than it actually is. We understand. Taxes can be difficult to deal with, especially when it is in relation to a mis-sold policy. Thousands of people were mis-sold PPI and have received a pay-out from the government. If you were one of these people, it’s very likely that quite a bit of your pay-out was taken away due to PPI tax. That’s why you need to have an expert tax lawyer on your aside that is available to help you understand what you could be owed.
Now, one of the biggest worries you may have on your mind is whether or not you will need to pay to make a claim. This is a common worry for many of our clients. After all, you have just had to deal with making a PPI claim. It can be frustrating to know that you are still owed money, and worse, may have to pay money in order to get what is rightly yours returned to you.
This is where Gowing Law Solicitors can help you. Our experts are here to provide you with tax advice that can get you the pay-out you deserve. All you need to do is call us on 0800 041 8350 or use our PPI tax form below! Click the button to learn more:
Why was tax taken away from my PPI claim?
To give a little context about making a PPI tax claim, let’s go back to the root of the problem: PPI policies. PPI stands for “Payment Protection Insurance” and was usually included in a payment plan (i.e. for credit cards and loans). Unfortunately, in most cases, this policy was actually mis-sold because it did not fit the buyer. To sum it up, take a look at the GIF below to get an idea of how a PPI policy could have been mis-sold to you:
As you can see, these are only a few examples of how you could have been mis-sold PPI. Either way, if you were able to get a pay-out for your PPI policy from HMRC, there is a chance that when you received the pay-out it was taxed. Your pay-out was made out of:
- A statutory interest of 8% per year
- How much you paid into your PPI
- Any additional interest that the bank added to pay for your PPI
The only thing that could have been taxed is your statutory interest if it was suspected that you went over your personal savings allowance. Most importantly, if you can prove that you did not go over your saving’s allowance, it is very likely that you can have the tax returned to you.
Will it cost me to make a PPI Tax claim?
No it will not! Gowing Law Solicitors will never ask you to pay any fees to our solicitors unless we actually win your case. This is actually known as working on a “no win-no fee” basis. There will be no hidden fees and our team can do all of the tricky paperwork for you. Any difficult calculations can be sorted by our team of PPI Tax experts. That means you can relax and wait for your cheque to be sent to you. We can also help you remotely, meaning that you can stay remote and keep safe during the pandemic. Let our team of helpful lawyers work with HMRC on your behalf to get you the pay-out that you deserve.
Here are some additional reasons why you should use a specialist PPI Tax claim lawyer to help you get your pay-out:
How much could I claim from a successful PPI tax claim?
This is a question that tax solicitors get asked a lot about their claims. The main thing we need you to understand about PPI tax claims is that they are all entirely different. Any type of pay-out that you receive depends entirely on how much you paid in for your PPI and your PSA. Over the last year, Gowing Law Solicitors has managed to recover around £10,000 in rebates for our clients. So, you could be owed £100’s in compensation or even more! The best way to find out whether or not you could be eligible is through your solicitor. They can help you understand the extent of your pay-out and even work with HMRC to get it back for you. Let your solicitor do the tricky maths and paperwork. You just need to sit back and relax as you wait for your cheque to arrive in the mail!
Contact Gowing Law Solicitors today to get started on your PPI Tax Claim
Our PPI tax team are here to help you with any sort of PPI or Marriage tax claim. All you need to do is get in contact with us! We can offer you free advice and consultations to get started. Then you can let us know if you want to go ahead with your claim. We will provide you with personalized advice and will try to get your pay-out to you in a timely manner. Please be aware that due to the pandemic, there may be delays with your claim, but we will always keep you updated about how it is progressing.
Contact Gowing Law today by calling 0800 041 8350, emailing email@example.com or by using our claims checker. One of our specialists will then be in contact to answer any questions you may have about your PPI Tax claim.
Learn more about making PPI Tax Claims
If you’re ready to learn more about PPI tax claims, the best to find out more information is through our blog! We cover the latest information about personal injury, tax, financial mis-selling and immigration claims. You can also learn more about seasonal events and our latest giveaways and competitions. We also update our blog with the latest content about our law firm. Similarly make sure to also keep an eye on our social media to see what we have been up to. You can find the links to our Twitter and Facebook below!
We look forward to helping you with your claim soon!