Tax Returned Limited charged me 92.4% for obtaining a £102.06 tax refund!!

RAYBELZ

I asked Tax Returned Limited to check my taxes and claim back any amounts due. It was was not made clear to me the total they would charge me. Consequently, a £102.06 HMRC Refund via these opportunists has resulted in a £94.30 fee (78.58 fee and £15.72 VAT charge on their fee). This results in my HMRC refund of £102.06 reducing to £7.76! This is my money already and yet they have chosen to take 92.4% of it! How is that allowed?

marcia_

RAYBELZ said:

I asked Tax Returned Limited to check my taxes and claim back any amounts due. It was was not made clear to me the total they would charge me. Consequently, a £102.06 HMRC Refund via these opportunists has resulted in a £94.30 fee (78.58 fee and £15.72 VAT charge on their fee). This results in my HMRC refund of £102.06 reducing to £7.76! This is my money already and yet they have chosen to take 92.4% of it! How is that allowed?

 Because you failed to read the contract you signed which specified their fees 

DullGreyGuy

RAYBELZ said:

I asked Tax Returned Limited to check my taxes and claim back any amounts due. It was was not made clear to me the total they would charge me. Consequently, a £102.06 HMRC Refund via these opportunists has resulted in a £94.30 fee (78.58 fee and £15.72 VAT charge on their fee). This results in my HMRC refund of £102.06 reducing to £7.76! This is my money already and yet they have chosen to take 92.4% of it! How is that allowed?

Why do you think it shouldn't be allowed? You're the one that asked them to do it and agreed to their pricing structure. If you didnt want to pay them dont instruct them

Their website clearly states the fees are £50 + 28% of the refund + VAT. 

Ayr_Rage

You have paid EXACTLY what you agreed when you signed up, you cannot miss it, this is on their web page.

 All successful claims incur a fee of 28% (+VAT) plus £50 (+VAT) which will be deducted from your refund.

£102.06 x 0.28 = £28.58 

(£28.58 + £50) x 0.2 = £94.30

Nomunnofun1

RAYBELZ said:

I asked Tax Returned Limited to check my taxes and claim back any amounts due. It was was not made clear to me the total they would charge me. Consequently, a £102.06 HMRC Refund via these opportunists has resulted in a £94.30 fee (78.58 fee and £15.72 VAT charge on their fee). This results in my HMRC refund of £102.06 reducing to £7.76! This is my money already and yet they have chosen to take 92.4% of it! How is that allowed?

That’s bad news! It could get worse if HMRC subsequently disallow the claim and you have to pay them back the £102.06. 

12.3 No liability for consequential damage or loss: We accept no liability for any consequential damage or loss arising from or in connection with any act or omission by us.

Ayr_Rage

Nomunnofun1 said:

RAYBELZ said:

I asked Tax Returned Limited to check my taxes and claim back any amounts due. It was was not made clear to me the total they would charge me. Consequently, a £102.06 HMRC Refund via these opportunists has resulted in a £94.30 fee (78.58 fee and £15.72 VAT charge on their fee). This results in my HMRC refund of £102.06 reducing to £7.76! This is my money already and yet they have chosen to take 92.4% of it! How is that allowed?

That’s bad news! It could get worse if HMRC subsequently disallow the claim and you have to pay them back the £102.06. 

12.3 No liability for consequential damage or loss: We accept no liability for any consequential damage or loss arising from or in connection with any act or omission by us.

HMRC have already paid it, don't scaremonger.

Grumpy_chap

RAYBELZ said:

I asked Tax Returned Limited to check my taxes and claim back any amounts due. It was was not made clear to me the total they would charge me. Consequently, a £102.06 HMRC Refund via these opportunists has resulted in a £94.30 fee (78.58 fee and £15.72 VAT charge on their fee). This results in my HMRC refund of £102.06 reducing to £7.76! This is my money already and yet they have chosen to take 92.4% of it! How is that allowed?

You asked the company to do some work.
They did the work.
The work will not be done for free.

The risk is that the tax re-claimed is not due.  HMRC will generally make the payment and then, possibly, verify after the event.  If the verifications finds that the tax was not due to be refunded, the tax has to be paid back to HMRC but the Agent still keeps their fee.
At some point, the OP will have signed that the information used to allow the Agent to make the claim was correct.

The Agent that the OP has engaged has arisen on these boards previously:
https://forums.moneysavingexpert.com/discussion/6614888/why-has-hmrc-started-using-tax-return-limited/p1

Brie

I would suggest you should write a letter to them to state that you do not accept any further assistance with any tax issues or other financial dealings.  Some companies have been known to continue to get fees if their services are not cancelled.  At least that's what I've heard.  

Nomunnofun1

Ayr_Rage said:

Nomunnofun1 said:

RAYBELZ said:

I asked Tax Returned Limited to check my taxes and claim back any amounts due. It was was not made clear to me the total they would charge me. Consequently, a £102.06 HMRC Refund via these opportunists has resulted in a £94.30 fee (78.58 fee and £15.72 VAT charge on their fee). This results in my HMRC refund of £102.06 reducing to £7.76! This is my money already and yet they have chosen to take 92.4% of it! How is that allowed?

That’s bad news! It could get worse if HMRC subsequently disallow the claim and you have to pay them back the £102.06. 

12.3 No liability for consequential damage or loss: We accept no liability for any consequential damage or loss arising from or in connection with any act or omission by us.

HMRC have already paid it, don't scaremonger.

HMRC deal with claims on a ‘process now, check later’ basis. 

Perhaps you haven’t read the many, too many to mention, threads on this forum where exactly that has happened as also suggested by Grumpy Chap above. 

Definitely not scaremongering! 

silvercar

Brie said:

I would suggest you should write a letter to them to state that you do not accept any further assistance with any tax issues or other financial dealings.  Some companies have been known to continue to get fees if their services are not cancelled.  At least that's what I've heard.  

And also log in to your hmrc account and remove them from there. There will be an agents details section that you can untick.

mybestattempt

silvercar said:

Brie said:

I would suggest you should write a letter to them to state that you do not accept any further assistance with any tax issues or other financial dealings.  Some companies have been known to continue to get fees if their services are not cancelled.  At least that's what I've heard.  

And also log in to your hmrc account and remove them from there. There will be an agents details section that you can untick.

Here is a link with details for removing tax agent authorisation:

https://www.gov.uk/guidance/change-or-remove-your-tax-agents-authorisation