HMRC delays RTI penalty scheme

PPI Payout – you may owe tax on it!

Investments, Personal Tax l

creditcards

The banks have already paid out £12bn to those who say they were mis-sold payment protection insurance (PPI) on credit cards, loans or other lending products. A proportion of this is interest on the compensation, paid at 8pc a year. But unlike interest on a savings account, many of the payments are untaxed.