Icesave Cheque - No Details

Richchad

Well I received my Icesave compensation cheque from the FSCS this morning, however all they show is a total amount, no detail of the interest accrued.

I will need to show the interest in my tax return, my Icesave account was being paid monthly, last payment to my bank paid on 11th September, however my Icesave statement shows interest for 11th October being paid to my bank which it never was.

The interest rate for one year term monthly payments was 6.75%, what is the rate for the remainder of the term, would it be 7.06% as no monthly payments?

Can I ask the FSCS for a breakdown or statement?

tradetime

I'd like to know the answer to this too, I phoned the FSCS and she said they did not deal with tax issues, I would have received a letter about that with a website address to go to, well I had received no such letter, and we ended at an impasse where she was saying I should have received...and I was saying I had not.

Mikeyorks

Richchad wrote: »

Can I ask the FSCS for a breakdown or statement?

You can ..... but they won't provide one. You need to compute the gross / net interest yourself.

As here :
http://forums.moneysavingexpert.com/showthread.html?t=1484999

Richchad

I think the best I can come up with is to take the last balance figure away from the cheque amount, which must be interest between the final balance day and now.

Add this to the interest I have already been paid monthly and hope it is right for my tax return.