Reclaim CPP article discussion

Mrsfreeman8

I recieved my CPP reclaim application through the post some months back and thought 'yeah yeah, like I'm going to get any money back, I'm just not that lucky' but filled out the form as per the advice on this page, changed a few of the financial details on the template and low and behold, 7 weeks later a cheque dropped through the door today for £229!! Took me all of 5 minutes to complete, very pleased indeed! Good luck to everyone else applying, hope you all have success!

dizzydux

Thanks to MSE I persuaded my husband to return his CPP letter, and today he got a cheque for 328.
thanks

rob3770

Just got my little cheque but was surprised to read in the attached letter that 20% has been taken off for tax reasons!!!

Why should i pay tax on money that i am owed due to an illegal selling procedure?

[Deleted User]

rob3770 wrote: »

Why should i pay tax on money that i am owed due to an illegal selling procedure?

There is nothing "illegal" about the selling procedure, this mis-selling is not a legal issue at all (which is why it hasn't gone to court).

You have to pay tax on the "windfall" you have received.

doffi

Got £223 yesterday. Well pleased. Thanks to MSE for highlighting this; wouldn't have bothered otherwise:T

LutonGirl

I got home from work yesterday to find a cheque for £263 from CPP. I only signed the form and sent it back about a month ago. I'd completely forgotten I even had this account so this truly is a windfall.

Renewed my car insurance this week - got £65 saving on last year's and it came to ... you guessed it... £263. Free car insurance this year!!!!!!!!!!! Yippeeeee

tux900

rob3770 wrote: »

Just got my little cheque but was surprised to read in the attached letter that 20% has been taken off for tax reasons!!!

Why should i pay tax on money that i am owed due to an illegal selling procedure?

You should only have paid tax on the interest as, like interest earned elsewhere (eg a savings account where your premium could have been held for all these years), it is regarded as income.

[Deleted User]

tux900 wrote: »

You should only have paid tax on the interest

This is all that CPP will have deducted before payment.

In addition, any non-taxpayers can apply to HMRC for a refund- as already stated several time over in this thread.

terryhodlin

Had CPP for many years so didn't think I was eligible for compensation but, as they sent me a claim form, I took MSE's advice and filled it in anyway using the advice given on the MSE website. Pleased to say that I received a cheque for £242 today. Thanks.

P S. Congratulations on the OBE. Well deserved.

skyeblue

not sure if this has been asked before - didn't fancy trawling through 69 pages to find out!!


Our CPP claim is valid - we fit the criteria. It is for a M&S Cardsafe product, which, amongst other things, provides a one-stop contact if cards are lost or stolen, and they notify the card issuers.


If we claim, and are paid compensation "we will have cancelled the policy... so we will lose the benefits it provides."


This means we will no longer have the card notification facility, which we find valuable, so we are in a quandary - claim the money (approx. £200) and lose the service, or not claim and keep the service.


But I think I read somewhere that CPP will probably cease to exist as a result of all this, so there my be no future service anyway?


What can anyone advise - thanks in advance for any suggestions.