ARE YOU ELIGIBLE FOR A TAX REFUND ON YOUR FINANCIAL CLAIM?
When you received your claim compensation, most payouts included an element called Statutory Interest. This was an additional amount based on the length of time from when your product was initially provided and paid. It was added to your payout to compensate you for the period of time you had been deprived of your money by purchasing the unsuitable product.
Statutory Interest is a taxable item by HMRC and Income Tax would have been deducted automatically by the firm making the payment to you. The deduction was made for everybody irrespective of their tax circumstances and it is your responsibility to CLAIM IT BACK. Even Higher Rate Taxpayers can claim up to £100. Basic Rate Taxpayers can claim up to £1200 and Non Taxpayers even more! If your payout was for a joint finance, you can EACH claim so this increases the potential refund from a single claim!!
You generally only have 4 years to claim a tax refund or you will lose the opportunity to do so. However in some cases it can be possible to go back further. The Clock is Ticking - Check how much you could claim using our Free Calculator.
YOU DO NOT NEED TO USE A CLAIMS COMPANY TO MAKE A TAX REFUND CLAIM. YOU CAN DO THIS FOR YOURSELF DIRECT TO HMRC FREE OF CHARGE.
However, if you decide that you would rather let us manage the process for you, we charge 30% + VAT of any refund achieved.