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PPI Claims Management company claiming commission on gross amount but only net amount received
patbf32
Posts: 3 Newbie
I went through a claims management company who are claiming commission on the gross amount. However, my payout was on the net amount. I am unable to reclaim the interest as my salary is over the threshold. Do I have to pay the commission on the gross amount.
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Comments
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Yes you do.
Sounds like it was an expensive stamp.3 -
Not only that, but there will also be a VAT element to the claim company's bill. So you'll pay even more tax I'm afraid.patbf32 said: Do I have to pay the commission on the gross amount.As above, basically an expensive postage stamp.2 -
Can only confirm the above. Claims companies bill on the gross amount awarded. Not the net amount.
Also, it is not a commission. It is a fee.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1
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