Tax Rebate on
Bank of Ireland UK
Compensation
Received a Bank of Ireland UK compensation payout? HMRC almost certainly deducted tax before it reached you — and you may be able to get it back from HMRC.
Check If You Can Claim
Estimate Your Bank of Ireland Tax Rebate
How Much Could You Be Owed?
Estimate only. Actual figure depends on your specific payout breakdown and tax status.
How to Claim Your Tax Back From HMRC
Your rebate is recovered via an HMRC R40 repayment form. Moreover, we handle everything — you don’t need to contact HMRC at any stage.
Check Eligibility
First, complete our short online form. In fact, this takes under two minutes and immediately confirms whether you qualify to make a claim.
Share Your Details
Next, provide your personal information and a copy of your Santander Consumer Finance Final Response Letter showing the compensation and tax deducted.
We Handle Everything
We then prepare your HMRC R40 application, compile all supporting documentation, and submit your claim — no action required from you.
Receive Your Rebate
Finally, HMRC pays your rebate directly to you, typically within 6–8 weeks of submission. No win, no fee — our 39% + VAT applies only on recovery.
Higher rate taxpayers may not be eligible. In some cases additional tax may be due instead — we assess this before any claim is submitted.
About Bank of Ireland & the FCA Compensation Scheme
Bank of Ireland UK provided car finance agreements through dealerships across the UK, and has set aside €172m (approximately £142m) to cover potential motor finance redress costs — one of the larger publicly disclosed provisions outside the major UK high-street banks. If you had a car finance agreement through Bank of Ireland UK between April 2007 and November 2024, you may be eligible for compensation under the FCA's redress scheme.
Where Bank of Ireland UK pays compensation including statutory interest, HMRC automatically deducts 20% income tax before the payment is released. Basic-rate and non-taxpayers can reclaim this deduction from HMRC via an R40 form. Our HMRC-registered agents manage this process in full — no HMRC contact is required from you.
The Bank of Ireland tax rebate claim is completely separate from the FCA compensation process. It does not affect your payout, alter your claim status, or require interaction with Bank of Ireland. Our agents handle all correspondence.
Am I Eligible to Reclaim Tax on My Bank of Ireland UK Compensation?
In general, you may qualify if all three of the following apply to you:
Condition 1 / 3
You received compensation from Bank of Ireland UK — via the FCA’s formal redress scheme, a standalone complaint, or a Financial Ombudsman Service decision.
Condition 2 / 3
Bank of Ireland UK deducted tax from your payout. This is confirmed in the Final Response Letter from Bank of Ireland UK, which sets out both the compensation amount and the tax deducted.
Condition 3 / 3
You were a basic rate taxpayer or non-taxpayer in the year the compensation was received. We confirm this as part of your free eligibility check — no guesswork required.
Higher rate taxpayers may not be eligible. In some cases additional tax may be due instead — we assess this before any claim is submitted.
Frequently Asked Questions
Yes. Bank of Ireland UK announced a provision of €172m (around £142m) to cover potential motor finance redress costs — a publicly disclosed figure that places it among the lenders with confirmed financial exposure to the FCA's redress scheme.
Yes — the FCA redress scheme covers agreements arranged through dealers where a commission arrangement was not properly disclosed. If your Bank of Ireland agreement was made between April 2007 and November 2024 through a dealership, you are potentially within scope.
There is no upfront cost. Our fee is a percentage of any successful rebate — if HMRC does not repay anything, you pay nothing. We will confirm our fee clearly before any claim is submitted.
No. The HMRC R40 tax rebate is completely separate from your Bank of Ireland UK compensation. It is filed directly with HMRC and does not involve Bank of Ireland UK or the FCA in any way. It will not delay, reduce or otherwise affect your payout.
Yes. You can register your interest now and our agents will file your R40 tax rebate claim in the correct tax year once your Bank of Ireland UK compensation is paid. The FCA expects most compensation payments to be made from 2026 onwards.
HMRC typically processes R40 repayment forms within 6–8 weeks of receipt. Our agents handle all HMRC communication and will keep you updated throughout.
Ready to Claim Your Bank of Ireland Tax Rebate?
Check your eligibility in 60 seconds. Our HMRC-registered agents handle everything — no upfront cost, no HMRC contact needed.