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Tax back on Novuna Vehicle Solutions car finance compensation

Lender guide · Specialist Novuna Vehicle Solutions · part of Mitsubishi HC Capital UK PLC
Quick answer

If Novuna Vehicle Solutions paid you compensation with interest, it will normally have taken 20% income tax off the interest. Basic-rate and non-taxpayers can usually get that tax back from HMRC, and we handle the claim for you.

By , Finance Editor Last checked 3 October 2026 · Sources listed below

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Parent groupMitsubishi HC Capital UK PLC
Lender typeSpecialist
Motor finance provisionNot published
Agreements in FCA scheme6 Apr 2007 – 1 Nov 2024

About Novuna Vehicle Solutions

Novuna Vehicle Solutions is the vehicle finance trading name of Mitsubishi HC Capital UK PLC, a finance company in Staines-upon-Thames. Until 2022 the company was called Hitachi Capital (UK) PLC, so older agreements may carry the Hitachi Capital name. As with most car finance, hire purchase or PCP deals were usually arranged by the dealer acting as a credit broker.

Vehicle finance from Novuna or Hitachi Capital taken out between 2007 and 2024 may fall within the FCA’s compensation scheme for car finance commission.

What Novuna took off your payout

Compensation is usually made up of three parts. Only one of them is what we reclaim.

1 · RedressThe commission or interest you overpaid. This part isn’t taxed.
2 · InterestAdded for the time you were without the money. This is taxed.
3 · Tax deductedUsually 20% of the interest. This is what we get back for you.

Can I claim?

  1. Novuna Vehicle Solutions paid you compensation, under the FCA scheme, after a complaint or through the Financial Ombudsman.
  2. The compensation included interest, with tax deducted.
  3. You were a basic-rate or non-taxpayer in the tax year you were paid.

Novuna questions

Will claiming affect my Novuna Vehicle Solutions compensation?

No. The rebate is a separate claim to HMRC. Novuna Vehicle Solutions isn’t involved and your compensation doesn’t change.

I had more than one Novuna agreement

Every payout you received in the same tax year goes into one claim, including payouts from other lenders.

Novuna hasn’t paid me yet

Reserve your rebate now. We’ll tell you when payments start and file for the right tax year once you’re paid.

My letter doesn’t show any tax deducted

If no tax was deducted, there’s nothing to reclaim. If you’re not sure, our case team can check it for you at no cost.

What do you do for me?

We check what you’re owed, work out the right tax year, prepare and submit the claim to HMRC as your agent, deal with any questions and send you the balance after our fees.

Sources

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