Question regards employment status

bravowhiskey

Hi. First of all may I say a big thanks to Mr lewis & co for enabling me to claim over £10000 PPI from Barclaycard ( after 3 letters). Much appreciated!

Now onto my question. I have also sent a similar claim to Capital One for miss-selling me a credit card PPI deal.
At the time of taking it out (2003) I was director of a limited company. I was the only employee and took dividends as my salary ( so no class2 NIC's).
I believed I was self employed and the company wrote back to me stating I had declared myself as self employed online when I applied for the card.
I do not recall anymore and will be asking for a copy of my application.
They state because I said I was self employed I was covered by the PPI. But to claim I would have had to shut down my company and file a final set of accounts through qn accountant to the Inland Revenue. This would have taken weeks if not more and cost me more than I would have claimed through the PPI insurance!
So I have two questions....
1. Would I actually be classed as self employed with a Ltd company?
2. Would I have been covered either way and if so would I have a case due to the unreasonable requirements before I could claim?

I would also argue they should have taken more effort to ascertain how I was self employed.
Hope someone can help.

Many thanks

di3004

bravowhiskey wrote: »

Hi. First of all may I say a big thanks to Mr lewis & co for enabling me to claim over £10000 PPI from Barclaycard ( after 3 letters). Much appreciated!

Now onto my question. I have also sent a similar claim to Capital One for miss-selling me a credit card PPI deal.
At the time of taking it out (2003) I was director of a limited company. I was the only employee and took dividends as my salary ( so no class2 NIC's).
I believed I was self employed and the company wrote back to me stating I had declared myself as self employed online when I applied for the card.
I do not recall anymore and will be asking for a copy of my application.
They state because I said I was self employed I was covered by the PPI. But to claim I would have had to shut down my company and file a final set of accounts through qn accountant to the Inland Revenue. This would have taken weeks if not more and cost me more than I would have claimed through the PPI insurance!
So I have two questions....
1. Would I actually be classed as self employed with a Ltd company?
2. Would I have been covered either way and if so would I have a case due to the unreasonable requirements before I could claim?

I would also argue they should have taken more effort to ascertain how I was self employed.
Hope someone can help.

Many thanks

Hello and welcome.

Hopefully someone who have been in this position will post up soon, but if you do not have the terms & conds of the policy or the copy of the policy itself its well worth requesting for a copy of this too.

I assumed (my personal opinion) you would be classed as self employed being a director of a company where you would pay out your own stamps etc, again some policies cover for self employment, so worth checking this out.

Again in regards of your 2nd question would depend on your actual policy, as they vary from one bank to another.

Definately write to request for these as well as your agreement, normally the agreement would cost you a £1 payable by cheque or postal order, and they should supply this by 12 days, the actual policy about 14 days.

For more on reclaiming in case other reason that may apply to you here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Meanwhile hopefully you will receive other posts to help you through this as well, fingers crossed.
Please keep us posted.;)