PPI tax

A question about : PPI tax

When I was working I paid income tax on my salary I also paid 11% of my income into an occupational pension. When I finished work I received my occupational pension each month. This again was taxed. To help my daughter to buy a car subject to VAT I took a loan in my name with PPI attached. I paid insurance tax on these premiums. I claimed my PPI back via a management company. I received a lump sum which was taxed. I had to pay the management company a share which was subject to VAT.

So the money I earned and spent has been taxed 6 times. Does anyone know how much the Govt have received from taxes created by re claimed PPI, I bet of the billions being refunded it must be Millions of Јs

Best answers:

• As the saying goes, there are three things that are certain in this life... birth, death and taxes (maybe four if you count MPs having their snout in the trough!)