Alliance & leicester ppi

tcannabellarose

Does anybody know how long the "final total amount offer" stays on the table for? Does this expire if I decide to go to the FOS?

I have just received this offer through the mail regarding a loan (with ppi) I took out with A&L in 03, however when I had another loan (again with ppi) in 05 this figure seem to be missing in the final amount. Is there an expiry date for the ppi refund? (even though this is still my money). Does the final amount have to be declared to the tax office?

dunstonh

Does anybody know how long the "final total amount offer" stays on the table for?

If the offer includes a payment for goodwill then they can withdraw it if you go to the FOS. They can then decide to let the FOS rule. Most of the time the company wouldnt withdraw the offer. In those cases, if the calculations are correct, the FOS will often comment that the offer is good from the company and tell you to accept their offer. Although they dont have to recalculate it (so if an investment element is involved or a interest being added, you could lose out).

If you feel the calculation is incorrect, then let A&L know. They will break it down for you. No point going to the FOS and waiting 3-18 months just for that.

Does the final amount have to be declared to the tax office?

If it includes interest, it will have basic rate tax deducted at source. However, if you are a higher rate taxpayer you will need to declare it via self assessment.