Virgin money RS - maturity

veryintrigued

Just a heads-up that Virgin seem to have advised HMRC of the doubled interest even if you subsequently paid half back for at least some.

Maybe we should all write a letter to them demanding any tax overpayment back...

What an absolutely terribly out of control institution Virgin are.

tg99

veryintrigued wrote: »

Just a heads-up that Virgin seem to have advised HMRC of the doubled interest even if you subsequently paid half back for at least some.

Maybe we should all write a letter to them demanding any tax overpayment back...

What an absolutely terribly out of control institution Virgin are.

Does this mean they will have included it on the tax certificates they send to customers (I request certificates for each Virgin account in order to compile my tax return)? As if not then would leave customers (who have not paid back the overpaid interest) having underreported to HMRC.

veryintrigued

tg99 wrote: »

Does this mean they will have included it on the tax certificates they send to customers (I request certificates for each Virgin account in order to compile my tax return)? As if not then would leave customers (who have not paid back the overpaid interest) having underreported to HMRC.

All I can tell you is that the recently added interest details (from a Virgin online RS from 17/18) which have been reported to HMRC by Virgin (and are now showing via HMRC Gateway and being used for the 18/19 estimates) is that I and at least one other are showing them as being awarded double interest. Even for us who initially paid that double interest back.

Whats the emoji for wry smile?

karlie88

19/2/19

:eek::D

veryintrigued

My available balance has increased from 3501.59 to 3550 i.e. looks like 48.41 in interest and the account is now called an Easy Access E-Saver Reward 18

Edit - uncleared transaction of PRODUCT TRANSFER + £48.41

molerat

veryintrigued wrote: »

My available balance has increased from 3501.59 to 3550 i.e. looks like 48.41 in interest and the account is now called an Easy Access E-Saver Reward 18

Edit - uncleared transaction of PRODUCT TRANSFER + £48.41

Still showing as 2.5% interest and unable to withdraw.

veryintrigued

veryintrigued wrote: »

My available balance has increased from 3501.59 to 3550 i.e. looks like 48.41 in interest and the account is now called an Easy Access E-Saver Reward 18

Edit - uncleared transaction of PRODUCT TRANSFER + £48.41

All cleared and closed now.

molerat

veryintrigued wrote: »

All cleared and closed now.

Same here

Neil_Jones

Well the Virgin double interest thing is still happening. The interest has cleared at £48.81 on top of my deposited £3500, go to close the account and withdraw the lot and the system automatically adds on another £50.

It took the best part of a month for them to notice on the Reg Saver 8 so I may get a new letter in six weeks time.

To fail after one reg saver is bad enough but for the same issue to run through nine and presumably online issues 10, 11 and 12 is just tragic really.

neverbrokensarah

I should have read this thread and taken it in more I moved my interest received into the new Easy Access E-Saver issue 18 from their to my RS issue 11 as I haven't filled that with £250 yet this month. Then moved some from the account to my nominated account. Then with the remaining amount pressed close account and then more than I expected in now an uncleared transfer to the RS issue 11! I have sent them a message stating that I was given interest and then on closer it has moved more.

I have got the response
"Thank you for getting in touch. The excess amount is the closing interest that is owed onto the account."