X-O (Jarvis) online platform to close in the summer

yippee_ki_yay

re HMRC’s cut Jarvis FAQs states:

‘Do I have to pay tax on the redress payment?

The redress payment is made up of two elements. The first element is a payment to remediate the loss you have suffered. The second is interest on the redress amount at the Bank of England base rate plus 1% to account for the time the redress money wasn’t available to you. Depending on your individual tax status, the second element may need to be declared to HMRC as earned interest. You will need to seek tax advice to confirm if this is required. We will not be able to confirm this for you, but we will provide a statement of gross interest received once you have made your claim.’

My potential payment is shown as follows:

TOB redress payment = £247.16

Bank of England base rate plus 1% on TOB redress payment = £35.38

Total = £282.54

OdiumChloride

I just found the letter, from Jarvis Investment Management Ltd (JIML), it was in my spam folder.

I also thought it was a scam but seems legit and I've already gone to the website and made my claim. It was easy.

As the song goes:

That letter, was only the start of it, one letter and now you're a part of it, now you've done it, JIML fixed it for you, and you, and you...

yippee_ki_yay

In addition to the above it appears that Jarvis are also offering / dealing with redress in relation to:

‘any higher transaction fees you were charged as you were introduced to us by either London South East Trading (LSE) or SharePrices Trading. We call this 'LSE' and 'LSE Redress' ‘

Ifts

I received the email a few weeks ago about a potential redress payment due to me, just the email no letter.

I also did think it was a scam at first. I managed to speak to Jarvis who confirmed it was legit, they said I was not the first to question it with them. Jarvis did say what did not help was the bulk emails went out from <impress@quadient-impress.uk> email address - so many customers did think it was a scam.

I went onto their claim site, they email you a code to the email address they have for you. Filled in the form, address and name, bank account number and sort code, left the NI number blank. No harm in giving them name and account details - you do that if you write a cheque anyway.

The online portal told me there and then that it was successful and the claim was in a queue to be paid, and two days later the money landed in my account. Also received statement of gross interest received.

All was very easy and straight forward to do.

yippee_ki_yay

Thankyou Ifts ⬆️ My experience was virtually the same.

My letter was attached to the email. I followed the link, completed the process, also ignoring the NI request, and received my payment within a few days. Simples.