jellyelly
26-03-2013, 02:24 PM
I was lucky enough to get some money out of a ppi claim I made! I was told on the letter that if I was self employed I needed to put it through my accounts as it was income! Is this true? I have a friend who's husband had a payout and he didn't bother telling his employer as it meant he would have to pay extra tax! Xx
phoenix2010
26-03-2013, 02:31 PM
HM Revenue & Customs: Reclaiming or paying tax on interest on Payment Protection Insurance (PPI) compensation payments (http://www.hmrc.gov.uk/news/news100512.htm)
does this help
NI MINDER
26-03-2013, 05:22 PM
Surely this is money you have originally paid out of your wages after it has been taxed ?? - therefore why would you have to pay tax on it again....... just my thoughts. Not that I am lucky enough to have any ppi claim !