Re: Latest Update on PPI Judicial Review - NO APPEAL - get your claims in......
Are they deducting tax from everyone or just self employed's?
Do the banks have a mandate to do this? I would say they don't. Unless the Inland Revenue have advised them to do this.
Bill as a self employed do you claim bank charges and interest on your tax return thus reducing the amount of tax you would pay?
If some self employed don't use bank charges and interest on their tax return then I do not see how they would have the power to decide and to recover taxes from these PPI refunds. It is not their call surely to deduct tax from refunds unless they were business accounts.
When you make an insurance claim, the insurers will always ask if you are VAT registered so that they don't have to pay the VAT over but they ask first they don't assume.
Some banks pay interest net of tax and some pay gross if we are lucky enough to have earned any interest.
If anyone has had tax deducted at source from their refunds and they are not self employed and if self employed and have not claimed this against tax on previous tax returns I would have thought there would be a case to take the banks to task over this and Bill yes your Sempra idea is worth noting. It is not though the Inland Revenue it would be against the banks.
Are they deducting tax from everyone or just self employed's?
Do the banks have a mandate to do this? I would say they don't. Unless the Inland Revenue have advised them to do this.
Bill as a self employed do you claim bank charges and interest on your tax return thus reducing the amount of tax you would pay?
If some self employed don't use bank charges and interest on their tax return then I do not see how they would have the power to decide and to recover taxes from these PPI refunds. It is not their call surely to deduct tax from refunds unless they were business accounts.
When you make an insurance claim, the insurers will always ask if you are VAT registered so that they don't have to pay the VAT over but they ask first they don't assume.
Some banks pay interest net of tax and some pay gross if we are lucky enough to have earned any interest.
If anyone has had tax deducted at source from their refunds and they are not self employed and if self employed and have not claimed this against tax on previous tax returns I would have thought there would be a case to take the banks to task over this and Bill yes your Sempra idea is worth noting. It is not though the Inland Revenue it would be against the banks.
Comment