PPI Reclaiming discussion Part III

marshallka

pinknico wrote: »

Yes thats a good idea, what a relief I thought you were going to lose £200:rolleyes:

You shouldnt have to pay a penny, I wonder why this has never come up before on this site?

I also wonder that too.... I have had the letter and by the side of each amount of statutory interest there are amounts of tax due on the amounts. I know the loans were in joint names but wonder if I can use it all as my income... .

They have used 20% of the interest...

marshallka

I have emailed the adjudicator of this as I want to see his comments. I want to know why others don't receive the same on their redress amounts. There are even letters from the co-op on another site whereby they are offering to redress someone and nothing on theirs about this TAX...:mad:

nellie1980

Please help,
I have recently sent out a template letter to alliance and leicester to reclaim my ppi off a loan from 3 years ago. I had a quick reply and they said that they are looking into the issue and will have their response shortly.
My question is, that is this the norm, or are thay using a stalling tactic on me? Has anyone else had this reply from a+l, and if so how long did they take to get their response.

Thanks.

cot1198

di3004 wrote: »

Marshallka

I have had my reply from the adjudicator at last, here::j :j

Dear Mrs

Thank you for your e-mail. It is my view that your complaint should be upheld and I am currently awaiting a response from the business in relation to points raised with it.

Unfortunately due to the limited resources available I am unable to provide a weekly update or progress report. Please be assured that your complaint is actively being worked on and as soon as there are any developments I will let you know. If the business does not agree with my view then the matter can be referred to the Ombudsman for consideration. If you consider due to your circumstances that you wish the matter to be fast tracked to the Ombudsman due to financial difficulty, this can be arranged if you let me know.

At present, I expect a response from the business in the next two weeks.

Yours sincerely

S
Adjudicator
Financial Ombudsman Service
Telephone: 0207
Fax: 0207

That's fantastic news Di, well done
How long has it been with them

marshallka

nellie1980 wrote: »

Please help,
I have recently sent out a template letter to alliance and leicester to reclaim my ppi off a loan from 3 years ago. I had a quick reply and they said that they are looking into the issue and will have their response shortly.
My question is, that is this the norm, or are thay using a stalling tactic on me? Has anyone else had this reply from a+l, and if so how long did they take to get their response.

Thanks.

Yeah, that is quite normal and they are really just acknowledging receipt of your complaint.;)

They will get back to you shortly.

cot1198

nellie1980 wrote: »

Please help,
I have recently sent out a template letter to alliance and leicester to reclaim my ppi off a loan from 3 years ago. I had a quick reply and they said that they are looking into the issue and will have their response shortly.
My question is, that is this the norm, or are thay using a stalling tactic on me? Has anyone else had this reply from a+l, and if so how long did they take to get their response.

Thanks.

This is normal as the business has 8 weeks to give their full and final response
I would wait and see when they get back to you what they have to say, if it goes over 8 weeks go to the FOS

marshallka

Just found this on CAG
http://www.consumeractiongroup.co.uk/forum/legalities/49641-important-information-regarding-tax.html#post399724

Now mine was a goodwill payment so there should be NO tax payable at all.

Quoted from CAG

Re: Important Information Regarding Tax On Interest
An important good news update to the above.

We are continuing to research this issue and we have identified a further important point.

Where a payment is received in settlement of a claim that is specifically stated to be a "goodwill gesture" (ex gratia) as opposed to an out of court settlement we have been advised that none of this payment is taxable nor need it be declared to the Inland Revenue.


According to this all other payments of statutory interest are taxable except where you have payment made by GOODWILL which mine was...

ElastiMum

Hi All

You may remember a while back I posted for some advice on reclaiming PPI from Egg. Well I followed the standard procedure and sent the letter.Of course they replied with the 8 week response. Well I expect the 8 weeks is coming to an end but havent heard anything from them - so today I checked my loan account online and it has reduced from just over £9000 at the end of october to just under £3000 now :j .... I'm almost too nervous to think its true. I want to have the letter in my hand to confirm everything.....

thanks to all of you for your good advice... it (ooks like it has paid off for me-quite literally!!

marshallka

ElastiMum wrote: »

Hi All

You may remember a while back I posted for some advice on reclaiming PPI from Egg. Well I followed the standard procedure and sent the letter.Of course they replied with the 8 week response. Well I expect the 8 weeks is coming to an end but havent heard anything from them - so today I checked my loan account online and it has reduced from just over £9000 at the end of october to just under £3000 now :j .... I'm almost too nervous to think its true. I want to have the letter in my hand to confirm everything.....

thanks to all of you for your good advice... it (ooks like it has paid off for me-quite literally!!

What a nice Christmas surprise that is...well done:beer: :j

I will let maxdp know when she comes on later. She will be pleased for you here...

pinknico

marshallka wrote: »

Just found this on CAG
http://www.consumeractiongroup.co.uk/forum/legalities/49641-important-information-regarding-tax.html#post399724

Now mine was a goodwill payment so there should be NO tax payable at all.

Quoted from CAG

Re: Important Information Regarding Tax On Interest
An important good news update to the above.

We are continuing to research this issue and we have identified a further important point.

Where a payment is received in settlement of a claim that is specifically stated to be a "goodwill gesture" (ex gratia) as opposed to an out of court settlement we have been advised that none of this payment is taxable nor need it be declared to the Inland Revenue.


According to this all other payments of statutory interest are taxable except where you have payment made by GOODWILL which mine was...

Yes thats what I was looking for:D
Thats good.