Reclaim Sentinel Card Protection article discussion

irritated

Sentinel A1 compensation cheque received after couple of weeks £302 - well pleased and so easy with using mse template (thanks to them) However they've deducted 20% tax and will have to reclaim from HMRC. Doesn't appear to be provision for this sort of repayment on HMRC R85 repayment form - is it classed as income?

castle96

" However they've deducted 20% tax and will have to reclaim from HMRC"
same for me. I do online s/asses, but as the cheque was received this tax year, I will have to wait until submitting next assessment to rclaim - yes ?

aurorablues

I received a cheque for £76.84

Way more than i expected :beer:

irritated

I am non tax payer and usually fill in HMRC R85 form for reclaim at the beginning of new tax year when I have all relevant tax deducted certificates. Would think you will have to do yours when filling in self assess form. Might be worth ringing HMRC to check, which is what I will do as not sure whether classed as income or what!!

KevinG

For those questioning the tax (which, for clarification, is on the interest, not the total), yes, if you are a 40/45% taxpayer or non-taxpayer, you will have to inform HMRC in the usual way. I am a non-taxpayer but still do a self-assessment every year so I will do it that way (to get my £20 back). The Gross interest (before tax) counts as taxable income.

decnette

Anna can you give me an address to write to for Lloyds bank?

anna42hmr

decnette wrote: »

Anna can you give me an address to write to for Lloyds bank?

Hi

yeah no problem, i used the one of their website which is:

Lloyds Bank, Customer Services, BX1 1LT.

als667

So if I claim my policy will be auto cancelled. Where do I go for the other benefits afforded by my Sentinel Gold policy???

biscuit22

Hey all , got a cheque for £294 this morning, only having submitted the form 4 weeks ago.:T:j
Thanks to Money saving expert and the users on this site.

By the way i was even taxed on the interest amount, but will be claimining it back as I'm a non tax payer at present.

anna42hmr

well looks like i will get another cheque in the post, Lloyds have called this morning following the letter i posted requesting refund of the pre 2005 premiums, they've confirmed i will be getting a refund for the earlier charges and will arrive within 4 weeks of the first cheque (which arrived last week). Lloyds have confirmed that they will be sending it directly to me. they couldn't advise exact amount as the interest is calculated up to the date of the cheque being issued.