Is redress amount the net figure received or gross figure before tax?

DanePak

Have just got notification we have been paid £5600.00 from our bank for a PPI claim. Not being as worldly wise as others, we used an agency who according to there terms and conditions state they charge 29% +VAT for any "redress" received. They have calculated their fee on a gross amount of £ 6000.00 because the bank have taken 20% income tax at source for the £2000.00 compensation received. Can anyone advise if the redress amount is the gross refund (£6000.00) or the net amount £5600.00 which was actually paid?

-taff

the gross amount is the amount before tax.


you get your refund.
the company charges according to the gross
then you pay tax as well


this is another reason not to use a company.