Packaged bank account

thegees

Hi all - have been successful in claiming but the coop are taxing me on the amount they owe me - has this happened to others too please?

thegees

Can any kind person help with above question please

PeacefulWaters

thegees wrote: »

Can any kind person help with above question please

Are they taxing the full payment, or just interest on the payment?

yoshiyella

bigadaj wrote: »

Nationwide flex plus would save you about a tenner a month, doesn't include the taste card but you can get a gourmet card for free from lloyds with their club account as well as getting 4% on £5k.

Only if you can get accepted, which I can't

takman

To all the people claiming back packaged account fees why did you pay them for so long??.
Even if you were told you needed to sign up to it to get a better loan rate why didn't you cancel it immediately after you got the loan?.
I got persuaded by the bank to sign up to one of these accounts when they were very new. After two months I decided it was no good so got them to cancel it and refund what I paid. I didn't go on paying it for years!.

I can't imagine what other thing these people don't need get persuaded to buy everyday!. I bet they must be a salesman's dream customer.

thegees

PeacefulWaters wrote: »

Are they taxing the full payment, or just interest on the payment?

Hi and thanks for reply - it was taxed on the interest (20%)

bigadaj

thegees wrote: »

Hi and thanks for reply - it was taxed on the interest (20%)

So that sounds correct.

If you're a non taxpayer then you should be able to reclaim from Hmrc, but if a higher rate taxpayer you still have a tax liability and would have more tax to pay.

Greenjo

I emailed my claim yesterday and they've just phoned to say I'm getting £1,659.42 refund! Plus I can claim back about £150 tax as I'm a non taxpayer!! Thank you so much MSE. X