Nationwide flex won't pay interest on more then one account.

DragonQ

Probably - the amount taken back is ~20% but I filled in an R85 so looks like I'll have to yell at them.

rb10

DragonQ wrote: »

Probably - the amount taken back is ~20% but I filled in an R85 so looks like I'll have to yell at them.

Your full online statement should show the gross amount and tax separately and clearly.

DragonQ

Ah yes, when I click "View full statement" it shows as "tax taken". Unbelievable, this is the second time I've had a problem with tax on this Nationwide account and I've only had it for 3 weeks!

Stupidly, my second FlexDirect account hasn't had any tax taken off, even though I listed both accounts on the R85 form!

Speculator

DragonQ wrote: »

Ah yes, when I click "View full statement" it shows as "tax taken". Unbelievable, this is the second time I've had a problem with tax on this Nationwide account and I've only had it for 3 weeks!

Stupidly, my second FlexDirect account hasn't had any tax taken off, even though I listed both accounts on the R85 form!

After you sign in, on the bottom left, click "interest and tax paid" and it will list all your accounts with Tax Status.

Also, whenever I fill in a R85, I always send one direct to head office and hand one into Local Branch just in case.

DragonQ

Was just on the phone to them and was told that it's a busy tax season so the form might not have been dealt with yet. The guy wasn't even very apologetic about the situation and insisted HMRC would send me the tax paid back automatically (never happens in my experience).

Just filed a complaint on their online banking messaging service.

rb10

DragonQ wrote: »

Was just on the phone to them and was told that it's a busy tax season so the form might not have been dealt with yet. The guy wasn't even very apologetic about the situation and insisted HMRC would send me the tax paid back automatically (never happens in my experience).

Just filed a complaint on their online banking messaging service.

When I had this some years ago, Nationwide just put the tax that had been paid back into my account.

It took a few weeks for it to come through. Just be patient and it'll sort itself out.

innovate

DragonQ wrote: »

.....and insisted HMRC would send me the tax paid back automatically (never happens in my experience).

Never heard that HMRC are refunding tax that shouldn't have been deducted from savings accounts. I reckon the Nationwide guy just made this up because he was slightly clueless.

I would have done just like you did - filed a formal complaint.

le_loup

rb10 wrote: »

When I had this some years ago, Nationwide just put the tax that had been paid back into my account.

It took a few weeks for it to come through. Just be patient and it'll sort itself out.

This will only occur if it is in the same tax year.
As we are nearing the end it is less likely in this instance.

scarborough-lass

Is there anybody else who hasn't had any interest added to their new Flex Direct account? - looked yesterday as people were saying that they had interest added and I have checked again this morning - nothing as yet!!

Hazzanet

Nope - nothing for me either :-(