The sheer volume of people just like you and I that have been mis-sold PPI and are fully entitled to win back money that their bank or lender has taken is astounding.
The process can from the outside seem tedious, but the success rates of the amount of people that have successfully been refunded does not lie. With an over 90% success rate across several services, why miss out on money that has your name written all over it?
One of the most frequent questions we get asked is ‘How do I know if I am eligible for a PPI tax refund?’. In a nutshell, the process is that straightforward that after just a few questions, you will be told if you are eligible. However, here are some indicators that will give you even more background intel on your eligibility.
You can claim back your PPI if the commission that the bank or lender took was over 50% of the total sale, in a more technical sense, this is called a Plevin Claim and usually occurs without your knowledge. The prime reason that many people have taken out PPI was to protect a financial scheme that most people come across, this includes but is not limited to; Mortgages, Credit cards and Loans.
These financial schemes evidently have been taken advantage of by PPI payments, this is the key reason we maintain that it is worth checking if you are entitled to tax refunds, furthermore, if you have experienced a job change that has reduced your income, are a non-tax payer, or if you are paying pension payments that have been actually paying for your PPI, you are fully within your rights to claim this money back.