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Wonga refund
sithmaster
Posts: 311 Forumite
in Loans
Hi all
I would like someobe too look over this
I have received a letter to say I am to receive a refund from a loan I took out year's ago.
Nowhere does it say when I took this loan out as I took several out about 5-6 years ago.
It say the refund reason is due to a balance miscalculation
But it does not say what that amount is.
It just says amount to be refunded including interest @8% - tax
Should it give me a complete breakdown?
Why the tax? If I had a refund from a shop I wouldn't pay tax on it, and if tax is to be paid as it's there error surly they should pay it.
Thanks
I would like someobe too look over this
I have received a letter to say I am to receive a refund from a loan I took out year's ago.
Nowhere does it say when I took this loan out as I took several out about 5-6 years ago.
It say the refund reason is due to a balance miscalculation
But it does not say what that amount is.
It just says amount to be refunded including interest @8% - tax
Should it give me a complete breakdown?
Why the tax? If I had a refund from a shop I wouldn't pay tax on it, and if tax is to be paid as it's there error surly they should pay it.
Thanks
0
Comments
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A refund from a shop wouldn't have interest added. Interest is considered as income by HMRC unless it comes from certain products (such as an ISA). So I suspect they have no choice but to withhold the tax.0
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There's no harm in asking for a breakdown, alternatively you can request a full loan history detailing all loans, interest and fees paid etc. It may take a few weeks though. Just email their customer services0
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