Payment protection insurance
A client had come to me to tell me that he submitted a claim for tax deducted on interest paid on a payment protection insurance (PPI) claim. He received the refund net of a hefty fee. This creates two problems. In the first place the PPI interest was included on his tax return. Some of it was covered by the personal savings allowance but some of it was subject to higher rate tax. So he is not entitled to the refund as everything was dealt with through his return. Secondly he seems to have signed a deed of assignment which would mean that any future tax repayments from whatever source will be paid to the refund company. Details of exactly what he has signed and how the refund calculation was made are sketchy in the least.
How should I advise my client to deal...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.