Dealing With Two Difficult PPI Claim Situations For UK’s Self-Employed

September 18, 2015
by admin in PPI News

Dealing With Two Difficult PPI Claim Situations For UK’s Self-Employed

When you took out that mortgage or financing, the bank employee almost certainly did not ask about your employment status. This is the same for individuals who may have been sick or had an accident when bank employees presented the insurance policy along with the financing.

ppi claim

While it’s easy to make a PPI claim by just presenting a medical record, you’ll need to present additional information when you’re a self-employed individual trying to get back your repayments for the policy.

  1. Selling Goods Without A License

You may have declared yourself self-employed. However, if you’re unregistered, it could be a difficult situation.

While you might be at loggerheads with the HMRC, you could get a reprieve and pay your withheld taxes to get a permit to get back your PPI refunds.

You may also declare yourself as unemployed. However, you might need supporting HMRC or at least a year-old resignation letter to present to the bank to prove your unemployment for a successful claim.

  1. Sole Traders

If you took financing for your company but were mis-sold PPI, you and a few others (if any) are considered self-employed. However, if you are part of the hierarchy and the PPI was under your name, a business permit should help get back your refunds for PPI.

Meanwhile, if you’re a limited company, you could get back your PPI refunds by using your own name and declaring yourself as self-employed in your company.