PPI Reclaiming discussion Part III

marshallka

di3004 wrote: »

I would not have known anything about this matter Marshallka if it wasn't for you, I still think its wrong though and why on earth did we now know about these issues before...... , like I said its given in one hand and taken back out of the other !

It seems a new thing and when I looked at peoples redressing now someone else had it on their redress letter. I have now found the thing about GOODWILL payments and interest above and even though it states interest HMRC do not class anything goodwill as interest so nothing due from us. I will check again but I would beware as these companies are likely to bite back with this..

marshallka

di3004 wrote: »

So basically then you get the refunds but have to sort this out with the Inland Rev yourself........

If you read what it says above it says that if a payment is goodwill and even though it states interest in the payment back then its not treated as interest as its really ALL goodwill.
(Ex-gratia or voluntary payment: It is sometimes suggested
that an interest addition is not taxable because it, or the
compensation on which it is calculated, is paid “ex-gratia” or
voluntarily. We accept that a truly voluntary payment cannot
be interest, even if described as such, because the essential
feature of an entitlement to it is absent)

But anything else in statutory interest is taxable.

Seems to me people are better off getting GOODWILL payments here...

dreamer33

Hi everyone

Can't believe how many posts are here now.

Got a letter from Freedom yest saying still looking into it and will respond with a final response in 28days.

After complaining to ICO about firstplus and the calls postman came and a letter from firstplus arrived saying would take 2-3 weeks for calls to be sent. hee hee

Well they should have got there correspondence in order when writing to me.:rotfl:

di3004

marshallka wrote: »

It seems a new thing and when I looked at peoples redressing now someone else had it on their redress letter. I have now found the thing about GOODWILL payments and interest above and even though it states interest HMRC do not class anything goodwill as interest so nothing due from us. I will check again but I would beware as these companies are likely to bite back with this..

Your right, to me this does not seem right but its well worth checking this out, you can't help it if its mis sold and its "compensation".....:mad: its yours !

Just a thought, do you think someone like the FSA will be able to confirm this to you?, or someone within an authority to do so ?

di3004

marshallka wrote: »

If you read what it says above it says that if a payment is goodwill and even though it states interest in the payment back then its not treated as interest as its really ALL goodwill.
(Ex-gratia or voluntary payment: It is sometimes suggested
that an interest addition is not taxable because it, or the
compensation on which it is calculated, is paid “ex-gratia” or
voluntarily. We accept that a truly voluntary payment cannot
be interest, even if described as such, because the essential
feature of an entitlement to it is absent)

But anything else in statutory interest is taxable.

Seems to me people are better off getting GOODWILL payments here...

I agree with you Marshallka......:rolleyes:

dreamer33

Don't know if this helps marshallka but below is the response about Cassidy Davis:

Cassidy Davis is a trading name currently used by Lloyd’s syndicate 5820 which is managed by Jubilee Managing Agency Limited. The FSA became the regulator for Lloyd’s of London under the Financial Services and Markets Act (FSMA) in 2001. Prior to then Lloyd’s of London itself was the regulator. All individual managing agents are separately authorised and regulated by the FSA as is Lloyd’s itself.

di3004

dreamer33 wrote: »

Hi everyone

Can't believe how many posts are here now.

Got a letter from Freedom yest saying still looking into it and will respond with a final response in 28days.

After complaining to ICO about firstplus and the calls postman came and a letter from firstplus arrived saying would take 2-3 weeks for calls to be sent. hee hee

Well they should have got there correspondence in order when writing to me.:rotfl:

Golly........:eek: is this you really dreamer?:eek: , how are you hun?, hope all is well, we have missed ya and looks like things are finally moving for you....:T , good news and good luck.:D .x

marshyyouth

Hi again all,

quick question :rolleyes:

"If I do not receive a more favorable response within 14 days I shall be taking my complaint to the Financial Ombudsman"


How close have you stuck to the 14 days, do people normaly give it an extra week or so?

di3004

marshyyouth wrote: »

Hi again all,

quick question :rolleyes:

"If I do not receive a more favorable response within 14 days I shall be taking my complaint to the Financial Ombudsman"


How close have you stuck to the 14 days, do people normaly give it an extra week or so?

Hi there.
May I ask how long ago you sent the letter ?
I know they have 8 weeks in full to respond.

Or is this the second letter ?;)

dreamer33

Just going out with the puppy he is barking at me. Loves the snow and there is plenty of it :eek: