Iii

colalba

juliamarsh wrote: »

I sent them a message this afternoon a) pointing out that the commission rebate payments and associated tax had been omitted, b) asking why 2 of my holdings which had been transferred in specie from HL and that I had held for years with no new purchases had been classed as Group 2 and had equalisation payments and c) requesting that in future years certificates could be provided within an acceptable time frame. I suggested that for them to arrive by the end of May would be reasonable - impossible for III no doubt although most other companies seem able to manage it.

Did you get anywhere with the first point "that the commission rebate payments and associated tax had been omitted," ?


I spent about an hour on the phone to them but got nowhere in convincing them there was a problem. I have since raised complaint in writing but heard nothing.

xylophone

You know this is all going to end in tears.......

Prophetic.....my transfer from the cash ISA is likely to take place nearly a month after it should have done....but I have had a "goodwill payment".. buy a bottle to drown my sorrows?:eek:

Imnoexpert_2

thanks Juliamarsh ?I will have to check out my tax statement line by line won't I? I have delayed doing this because I am spending too much time checking on dividends, checking fund rebates and pursuing my second complaint against them prior to going to the ombudsman.

I resent the time this all takes when I'm paying them to do this stuff! And all they do is bung you a few quid, or credits to go away when you prove them incompetent.

xylophone

And all they do is bung you a few quid, or credits to go away when you prove them incompetent.

I've had the few quid - some credits would actually come in handy when my transfer money finally struggles into my account.....;)

lejog2003

lejog2003 wrote: »

Do you think theres a chance that I'll be able to wash my hands of these inept shysters by the anniversary of me leaving them (1st Dec)? What are the chances of both:

1) them posting me a statement?
2) it being correct?

le_loup wrote: »

Doubtful
1) No chance
2) No chance

Correct on all points. I wrote to iii asking for a tax voucher and statement of payments made after my online account was closed to be posted to me, but the first I heard back was a phone call and email welcoming me to my new account and inviting me to a "one2one" induction session helping me to use their wonderful website. :rotfl:Yes they had reopened my account. A couple of days later they actually responded to my letter via secure message (luckily I remembered my account password). A summary of what I found:

1) The tax voucher omitted commission rebates and the tax paid on them.
2) £50 (a late ISA tax rebate) had been sitting in my iii account since Jan 2015, which iii had failed to pay out to my bank account (and I of course had no access to my iii account). All I can now do with this £50 is transfer it between iii accounts, the option to withdraw it to my bank account is no longer available!
3) On checking my statements there is another ISA tax rebate of around £50 due which has never even been credited to my account.

3 weeks after complaining by secure message and a week after requesting at least an acknowledgement of my complaint, not a word from iii and the £50 is still sitting in my account. There will be a stiffly worded letter of formal complaint winging its way to Ms Baxter this weekend, perhaps followed by a phone call to the Ombudsman.

So 1 year after transferring away from iii, they still owe me £100 and a tax voucher! :mad:

le_loup

So sorry to hear that but obviously not surprised!
How do these people stay in business?

xylophone

So 1 year after transferring away from iii, they still owe me £100 and a tax voucher!

At least in my case I had been (over) paid a dividend and a tax credit in error - being an honest person, I pointed this out by secure message and letter more than once and my statement is finally being rectified......

juliamarsh

colalba wrote: »

Did you get anywhere with the first point "that the commission rebate payments and associated tax had been omitted," ?


I spent about an hour on the phone to them but got nowhere in convincing them there was a problem. I have since raised complaint in writing but heard nothing.

Well they said in their message that they would be issuing an updated tax voucher which would include my trail commission schedule...we will see what they come up with and I will report back.

lejog2003

lejog2003 wrote: »

Correct on all points. I wrote to iii asking for a tax voucher and statement of payments made after my online account was closed to be posted to me, but the first I heard back was a phone call and email welcoming me to my new account and inviting me to a "one2one" induction session helping me to use their wonderful website. :rotfl:Yes they had reopened my account. A couple of days later they actually responded to my letter via secure message (luckily I remembered my account password). A summary of what I found:

Replying to myself, I know. But I forgot to mention that having reopened my account without my permission and inviting me to start trading, iii will undoubtably charge me £20 in January!

le_loup

Oh, they will.
Did the same to me but a phone call before the month started enabled me to close the account - again - and stop the charge.