PPI Reclaiming Discussion part 4

computerbuddy

Well done to all winners!
I have had a cheque through from Halifax for £637.37
Refunds of premiums £300.83
Refund of interest at 9.9% £84.66
Interest 8% calculated up untill 02 November £287.37
Please note that this interest payment constitutes taxable income and needs to be discussed with your tax office or advisor to determine if any tax is due. Now can anyone tell me if i need to pay tax on this and if so how much would i need to pay. Thanks in advance xx

The_Marksman

computerbuddy wrote: »

Well done to all winners!
I have had a cheque through from Halifax for £637.37
Refunds of premiums £300.83
Refund of interest at 9.9% £84.66
Interest 8% calculated up untill 02 November £287.37
Please note that this interest payment constitutes taxable income and needs to be discussed with your tax office or advisor to determine if any tax is due. Now can anyone tell me if i need to pay tax on this and if so how much would i need to pay. Thanks in advance xx

Well Done............... :beer:

If you work & earn less than 39k and/or the ppi redress (8%) wont push you over this, you will need to pay 20% on the 8% interest only (£57.48) this can be made over the phone by adjusting your tax code or by a self assesment form at the end of the year. If you earn over 39K and you have a elite tax code you can avoid paying this, PM me for details.

anne47

Channers wrote: »

Greetings and Salutations!

Long time reader, first time writer.

First of all want to say thanks for all the supporting messages, giving people like me the hope to do these things ourselves and get back what it rightfully due.

Was just wondering about peoples experiences in terms of actually being paid back their settlement, once they agree to it.

To give a very brief overview, I made me initial claim for my PPI back in May this year for a loan (my only one ever!). I used RBS’s own service. I never received a notification or anything to this effect. I called again asking for confirmation to be sent, which once again never was.

I then counted the 16 weeks, called to be told that according to their paperwork, they received my complaint in June not May and I still had some time to go. I called back again refuting this and mysteriously, I was told cryptically that a letter has been sent and that I would like it.

An offer was made, I accepted and this was sent back and received (checking with 3 phonecalls) on 28th September. I have now been told that I will have to wait 28 working days to have this sent to me. Am I missing something here? I was even told that this is no guarantee and that I may have to wait even longer.

I have no arrears on my account so the full sum will be due, but I am intrigued to know why this takes so blooming long and anyone else’s experiences with RBS. I am very tempted to stop paying my last few payments on my loan and advising them that if they want the money, then take it from what is owed. I wonder if the 28 working days would suddenly disappear. I am not even sure if anything can be done in this instance. Just needing to vent and wondering if there is anyone in a similar predicament.

Hi , I had my case upheld a week last Saturday with RBS and was told it would be 28 working days from the day they received my acceptance letter for me to get payment . Hopefully this will be so !!:)

computerbuddy

Does anyone have the number for the tax man please x

computerbuddy

The Marksman ,Thanks so much hon you have been very helpful! x

cappo

computerbuddy wrote: »

Well done to all winners!
I have had a cheque through from Halifax for £637.37
Refunds of premiums £300.83
Refund of interest at 9.9% £84.66
Interest 8% calculated up untill 02 November £287.37
Please note that this interest payment constitutes taxable income and needs to be discussed with your tax office or advisor to determine if any tax is due. Now can anyone tell me if i need to pay tax on this and if so how much would i need to pay. Thanks in advance xx

Hi buddy it depends if you are a taxpayer as to whether you need to declare it.

bobbyb1981

Hi There

Can anyone help - I'm trying to make a claim against my Burton's storecard but cant find the right address through Santander. Does anybody know the right place to send this to ???

Also does the questionaire need a covering letter ? (has anybody got one)

Not sure what my chances are but fingers crossed

Cheers , Bobby

beamerguy

computerbuddy wrote: »

Well done to all winners!
I have had a cheque through from Halifax for £637.37
Refunds of premiums £300.83
Refund of interest at 9.9% £84.66
Interest 8% calculated up untill 02 November £287.37
Please note that this interest payment constitutes taxable income and needs to be discussed with your tax office or advisor to determine if any tax is due. Now can anyone tell me if i need to pay tax on this and if so how much would i need to pay. Thanks in advance xx

Hi Buddy, the interest is not an income, and you have not earned it

smitchy73

computerbuddy wrote: »

Does anyone have the number for the tax man please x

Here's a link to the specific section on their website

http://search2.hmrc.gov.uk/kbroker/hmrc/contactus/search.ladv?raction=view&fl0=__dsid%3A&sm=0&ha=34&as=1&sf=&sp_scope=hmrc&cs=ISO-8859-1&tx0=49612

rush2112col

anne47 wrote: »

Hi , I had my case upheld a week last Saturday with RBS and was told it would be 28 working days from the day they received my acceptance letter for me to get payment . Hopefully this will be so !!:)

Dont rely on it!!! I have been waiting 32 working days now and still nothing received. Cannot find anyone who has actually been paid out yet by RBS/Nat West. :mad::mad::mad::mad: