People who have previously applied for Payment Protection Insurance (PPI) could receive thousands back in tax payments according to Money Saving Expert, Martin Lewis.

With the end if the tax year fast approaching - April 6 - Mr Lewis spoke on Good Morning Britain this morning about key deadlines people needed to be aware of. 

He explained there was one key deadline people should be aware of, that could earn you thousands. 

End of tax year key deadline

If you claimed a PPI payout in the 2018/19 tax year, April 6 is your last chance to get tax back from it.

Mr Lewis said once the April 6 deadline had passed, people will no longer be able to claim what he said could be "thousands".

Speaking on his new Wallet Wednesday segment on GMB, he said: "If you remember the deadline to claim Payment Protection Insurance was August 2019, so in the run up - April 2018 to April 2019 - lots of people were doing it. 

"If you've got your PPI payout, it automatically had 20% tax taken off on what's called the statutory interest that was added on top. 

"So you've got the 8% statutory interest that was taxed. 

"Now, most people shouldn't have paid that tax because you're allowed to earn £1000 of interest a year and it counts as savings interest. 

"So you can reclaim that tax. It's complicated.

Mr Lewis added: "See this as a clarion call. If you had a PPI payout and you've had it anytime since April 2018, go quickly, check when it was and if you did get it, you need to fill in a form to get your tax back. 

"There are free guides on the internet that will take you through it step by step.

"But again, if you don't do that by the 6th of April and your payout was in that 2018/19 tax year, you can't do it. 

"Some people get thousands from that."

Mr Lewis discussed a number of other topics on the Wednesday Wallet segment including long-term discounted tariffs on broadband, ISA payments and energy prices.