If you have been in receipt of compensation as part of a Payment Protection Insurance (PPI) Claim since April 2016, it is highly likely you are entitled to a rebate of some, if not all of the tax that was withheld by your Bank/Lender.

Depending upon your income, you may be entitled to some, if not all of the tax back – which roughly amounts to 1/10th of the full redress figure.

Your income level as well as whether you have earned any interest from savings or investments within the year you received your redress is also a key factor in how much you will be able to claim back.