Zopa mistake

johnbhoy70

I'll take my chances knocking back  £50 (x2) if  offered and say i'm not happy with that as it's already affected our take home pay, admittedly negligible, and i've already spent time onto HMRC. 

The slightly alarming thing about this is the fact imo it's just such a basic mistake. Not very confidence inspiring.

More HMRC letters to look forward to with updated tax codes! Oh goody!!

Ps- forgetting the fact you put it into a ISA in the first place to avoid any of this hassle!!

wiseonesomeofthetime

I accepted their initial compo offer of £60. I spent 2h on phone calls with HMRC to sort it out.

I am no longer a Zopa customer and have no interest in being so in the future, so less I have to deal with them, the better.

johnbhoy70

The first and only call i had with HMRC a couple of weeks ago the guy actually offered to wipe it off straight away but i told him i wanted to hear Zopa's response to my complaint. Only lasted about 10 mins i think. However, i knew what the problem was in advance and he agreed. The longest part of the call was as per usual the waiting which was about half an hour i think.

Btw the way it's correct that Zopa have 15 days  from the start of the complaint, isn't it??

eskbanker

johnbhoy70 said:

Btw the way it's correct that Zopa have 15 days  from the start of the complaint, isn't it??

https://handbook.fca.org.uk/handbook/disp1/disp1s6 explains the timescales for complaint resolution, which are generally eight weeks, although the likes of e-money ones are 15 days.

johnbhoy70

eskbanker said:

johnbhoy70 said:

Btw the way it's correct that Zopa have 15 days  from the start of the complaint, isn't it??

https://handbook.fca.org.uk/handbook/disp1/disp1s6 explains the timescales for complaint resolution, which are generally eight weeks, although the likes of e-money ones are 15 days.

Thanks for that. When I initially spoke to them the CS agreed it was 15 days. I phoned today as this deadline is now  very close and they're now saying 8 weeks! 

gesdt50

masonic said:

gesdt50 said:

Zopa couldn't even manage a ISA which is tax free and went and reported to HMRC to deduct tax from ones account, I have spent 3 hours on the app just trying to get a proper confimation, that 3 hours at work rate time near £60 and 1 hour 20 minutes to Hmrc who sent me also around the houses only to leave me with a new number to ring which I have yet to find time to do as I don't expect Hmrc to pay back any money unless chased and confirmations sent via some method

A complaint could be drafted in about 10 minutes max for a simple uncontentious issue such as this and sent electronically (then forget about it for a few weeks, decide if what they propose to put it right is acceptable, and optionally forward that complaint to the FOS for another 10 minutes work). Likewise a letter to HMRC, given they are aware of the issue, should do the trick, but may not even be required based on @spherical_badger 's post above. Did your 3.5 hours yield a better outcome than could have been expected from the simple approach?

I don't need a bank which I don't really call a so called bank, to be making work and things for me to do I already have tons of things to do every day, don't need extra workloads . "forget it for a few weeks, things forgetten for a few weeks tend to be forgotten for months and other things have then changed. I don't know who FOS are and am not going to start researching them more time. I am not going to be writing letters to HRMC and if you have time & a bit of work for you can you clear up these points

My 3.5 hours did for me althougn I will not say why here as things would change - not saying anymore, I've got things to do

masonic

gesdt50 said:

masonic said:

gesdt50 said:

Zopa couldn't even manage a ISA which is tax free and went and reported to HMRC to deduct tax from ones account, I have spent 3 hours on the app just trying to get a proper confimation, that 3 hours at work rate time near £60 and 1 hour 20 minutes to Hmrc who sent me also around the houses only to leave me with a new number to ring which I have yet to find time to do as I don't expect Hmrc to pay back any money unless chased and confirmations sent via some method

A complaint could be drafted in about 10 minutes max for a simple uncontentious issue such as this and sent electronically (then forget about it for a few weeks, decide if what they propose to put it right is acceptable, and optionally forward that complaint to the FOS for another 10 minutes work). Likewise a letter to HMRC, given they are aware of the issue, should do the trick, but may not even be required based on @spherical_badger 's post above. Did your 3.5 hours yield a better outcome than could have been expected from the simple approach?

I don't need a bank which I don't really call a so called bank, to be making work and things for me to do I already have tons of things to do every day, don't need extra workloads . "forget it for a few weeks, things forgetten for a few weeks tend to be forgotten for months and other things have then changed. I don't know who FOS are and am not going to start researching them more time. I am not going to be writing letters to HRMC and if you have time & a bit of work for you can you clear up these points

My 3.5 hours did for me althougn I will not say why here as things would change - not saying anymore, I've got things to do

Sounds tough to be juggling so many things. It makes it hard to use your time efficiently and plan ahead, so that explains everything. I do hope you are able to find some respite from all these demands on your time.

For others, the process of pursuing this can be made easier by letting the complaints process run its course. You may get an acceptable offer from Zopa, or you may not. If you do not, then make a counter offer, and if that's rejected see what the FOS come back with. Diarise when you need to check back in and then put it out of your mind, or use a service like Resolver to track your complaint and remind you when to review it.

johnbhoy70

Ok guys. They got  back to me and my wife yesterday  morning (i'm dealing with both) and offered me £125 and my wife £100. The only difference i can see in both responses  is that in my case i mentioned to them over the phone i believe i had being misadvised over the 15 days/8 weeks issue to resolve the complaint. 

Both emails were headed as 'Final Response Letter' however interestingly both say if you believe you have suffered a direct financial loss due to reduction of PSA and therefor take home pay then if you can provide supporting evidence they will reconsider the level of compensation.

I'm guessing my last response from HMRC informing me of tax code change and  my last wage slip showing the reduced tax code should suffice and we may both get a higher offer?

retiredbanker1

johnbhoy70 said:

I'm guessing my last response from HMRC informing me of tax code change and  my last wage slip showing the reduced tax code should suffice and we may both get a higher offer?

Not necessarily.
As HMRC are now aware of the error it won't take long for them to inform your payroll of the correct tax code and your wages will be back to normal.

If it was me I would take the £125.

johnbhoy70

retiredbanker1 said:

johnbhoy70 said:

I'm guessing my last response from HMRC informing me of tax code change and  my last wage slip showing the reduced tax code should suffice and we may both get a higher offer?

Not necessarily.
As HMRC are now aware of the error it won't take long for them to inform your payroll of the correct tax code and your wages will be back to normal.

If it was me I would take the £125.

Not sure i follow you tbh. Zopa stated to me that they resubmitted the data on 7th October and HMRC confirmed to them that they had received the new data and updated their records on 23rd October to reflect this. However, as i type at the moment my tax code is still wrong to my detriment. 

Also, the chronology of the letter first mentions the cash offer then goes on to say if this has had a direct financial impact, which it has, then to submit evidence of this (e.g. reduced tax code from HMRC and current payslip to reflect this) and they will reconsider the level of compensation. I just don't see how this could end up with a reduced offer especially when it's still not been corrected. Unless i'm missing something.

To sum up the 4 page response they have basically admitted making the initial mistake but are now saying HMRC have had the correct info for nearly 3 months now