Tax

[jess131]

Not sure if posted in right section. I recently received £5k from an ex mortgage lender (something to do with early repayment charges they took from me about 8 years ago!)

Very nice to receive I must say. They paid me back the charges plus interest. Tax was deducted and the letter says if your a tax payer you may be able to claim the tax back. I am a tax payer, but not sure how I go about this. Is this classed as income? And if so can I claim it back. I am a basic rate tax payer and to be honest I am only just over the threshold. Thanks

[fiction-factory]

its savi gave income. I think you have a tax fee savings allowance.

[fiction-factory]

.... of £1000 pa

[fiction-factory]

auto correct. Savings income

[Buenchico]

Your situation would appear to be the same as the one for people who received a PPI refund, so this should be relevant to you:
https://blog.moneysavingexpert.com/2019/04/martin-lewis--had-a-ppi-payout---if-so-you-can-reclaim-the-tax-o/

(Scroll down to 'How to claim the tax back')

[jess131]

Thank you. Ill have a read through the link.