Hi there, just to let you guys know that you can apply to HMRC for a tax refund on any PPI compensation payout. This stems from the fact that we are allowed tax free interest on our savings of up to £1000 in any given tax year. HMRC have deemed any PPI compensation as a 'saving' therefore we are allowed to make a claim of up to £1000. You can download Form R40 from their website. The only caveat is that you can only claim back as far as 2015-6. Obviously if you had any other savings then any gained interest would be included in the £1000.