Your final settlement letter will include a breakdown of how your PPI refund was calculated. It will usually consist of 3 components:
1. The actual PPI premiums.
2. Interest (if your original loan was increased to pay for PPI).
3. Statutory Interest (this is usually 8% per year).
The third element, Statutory Interest will usually have 20% tax deducted from it before it is paid to you.
The amount you’ll get back is dependent on your personal circumstances. The value of the refund is mainly based on your income in the year of the refund as well as the amount of Statutory Interest paid.
You will need the Final Settlement / Response letter from your lender as this proves the amount of tax that was deducted from your refund. We’ll also need proof of ID to comply with Money Laundering Regulations.
If you’re missing any documents, we’ll liaise directly with your lenders and HMRC to get any missing information.
This depends on how quickly your lenders and HMRC respond to our claim. Most claims are settled within 6-8 weeks.
Our fee on successful claims is 30% plus VAT. For example, if your refund is £100, our fee would be £36 and you would receive £64.
Our fee is settled directly from the refund, so you never need to pay us out of your own pocket.
As we operate on a no-win no fee basis, you pay us nothing at all if we don't get you a refund.
You must file a claim within 3 years from the end of the tax year in which you received your refund.
For example, if you received your refund on 31st January 2019 (2018/19 tax year), you must claim by 5th April 2022.
Please review our T&C's in the following T&C's document & Agreement Document.
Please note: A tax rebate is only applicable if you are a basic rate tax-payer and your PPI interest payment has not tipped your earnings into the higher rate tax band. Please DO NOT complete the form if you are Self-Employed or a higher/additional rate tax payer.
Instead, please seek advice from your accountant.
For whatever reason you are not happy with our service you can get in touch with us directly:
Call Us: 0113 733 6226
Email Us: [email protected]
Or alternatively, please refer to our legal notice and complaints policy.
Please visit legal notice for details of our cookie and privacy policy.
