The announcement that PPI compensation claims are subject to taxation has made an already complex story even more complicated. For victims of PPI mis-selling, the prospect of having to hand over a portion of their award is not an enticing one.
With HSBC being hit with a record fine of £10.5m, elderly victims who were mis-sold financial products are now due to receive significant compensation payouts.
The last week has seen much written in the press regarding miss sold PPI (payment protection insurance) in the UK and the plight of several large banks trying to save face as a result. However, we’re sure that there are many people out there who are unclear as to what all of the fuss is [...]