Zopa mistake

Dazed_and_C0nfused

johnbhoy70 said:

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

Have you got a third tax code now, just not what the one you expecting/hoping for or has there only been a single change when the ISA interest was a factor?

johnbhoy70

Nope. They are still using the wrong one which they advised me about in December yet Zopa tell me HMRC have had the correct info since start October and had corrected end of October.

retiredbanker1

johnbhoy70 said:

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

Then it should be HMRC you should be chasing - good luck with getting any compo from them.

johnbhoy70

Don't need any luck as I'm not chasing them. Zopa made the original mistake and owned it. What I said to you initially was I think I may get more compensation from them as they stated if I submit evidence it has reduced my take home pay they would reconsider the level of compensation! I'm not really sure how else I can explain it tbh!

retiredbanker1

johnbhoy70 said:

Don't need any luck as I'm not chasing them. Zopa made the original mistake and owned it. What I said to you initially was I think I may get more compensation from them as they stated if I submit evidence it has reduced my take home pay they would reconsider the level of compensation! I'm not really sure how else I can explain it tbh!

What I am saying is that when HMRC get their fingers out - they will put you back into the position you would have been if the error had not occurred. That is to say you will have suffered no loss (the tax taken in error will ne repaid to you) - so IMO take the £125 you have been offered and run!

johnbhoy70

retiredbanker1 said:

johnbhoy70 said:

Don't need any luck as I'm not chasing them. Zopa made the original mistake and owned it. What I said to you initially was I think I may get more compensation from them as they stated if I submit evidence it has reduced my take home pay they would reconsider the level of compensation! I'm not really sure how else I can explain it tbh!

What I am saying is that when HMRC get their fingers out - they will put you back into the position you would have been if the error had not occurred. That is to say you will have suffered no loss (the tax taken in error will ne repaid to you) - so IMO take the £125 you have been offered and run!

I fully understand all that. What imo I think you're failing to understand is that even if there had been no financial loss due to incorrect data causing a wrong tax code then the offer was for the original mistake and wrong tax code regardless and time spent contacting both them and HMRC. That is why they then asked for payslips to prove I had been affected so they reconsider the level of offer. If I hadn't provided payslips then the £125 offer wasn't getting pulled or reducing. 

Fact is, they've caused me a bit of grief with their original mistake to HMRC and a wrong tax code being issued which has now caused a current financial loss, admittedly negligible. By the way they upped the offer to £130.

FIREDreamer

johnbhoy70 said:

retiredbanker1 said:

johnbhoy70 said:

Don't need any luck as I'm not chasing them. Zopa made the original mistake and owned it. What I said to you initially was I think I may get more compensation from them as they stated if I submit evidence it has reduced my take home pay they would reconsider the level of compensation! I'm not really sure how else I can explain it tbh!

What I am saying is that when HMRC get their fingers out - they will put you back into the position you would have been if the error had not occurred. That is to say you will have suffered no loss (the tax taken in error will ne repaid to you) - so IMO take the £125 you have been offered and run!

I fully understand all that. What imo I think you're failing to understand is that even if there had been no financial loss due to incorrect data causing a wrong tax code then the offer was for the original mistake and wrong tax code regardless and time spent contacting both them and HMRC. That is why they then asked for payslips to prove I had been affected so they reconsider the level of offer. If I hadn't provided payslips then the £125 offer wasn't getting pulled or reducing. 

Fact is, they've caused me a bit of grief with their original mistake to HMRC and a wrong tax code being issued which has now caused a current financial loss, admittedly negligible. By the way they upped the offer to £130.

A whole extra £5 for all that palaver? Pathetic.

johnbhoy70

FIREDreamer said:

johnbhoy70 said:

retiredbanker1 said:

johnbhoy70 said:

Don't need any luck as I'm not chasing them. Zopa made the original mistake and owned it. What I said to you initially was I think I may get more compensation from them as they stated if I submit evidence it has reduced my take home pay they would reconsider the level of compensation! I'm not really sure how else I can explain it tbh!

What I am saying is that when HMRC get their fingers out - they will put you back into the position you would have been if the error had not occurred. That is to say you will have suffered no loss (the tax taken in error will ne repaid to you) - so IMO take the £125 you have been offered and run!

I fully understand all that. What imo I think you're failing to understand is that even if there had been no financial loss due to incorrect data causing a wrong tax code then the offer was for the original mistake and wrong tax code regardless and time spent contacting both them and HMRC. That is why they then asked for payslips to prove I had been affected so they reconsider the level of offer. If I hadn't provided payslips then the £125 offer wasn't getting pulled or reducing. 

Fact is, they've caused me a bit of grief with their original mistake to HMRC and a wrong tax code being issued which has now caused a current financial loss, admittedly negligible. By the way they upped the offer to £130.

A whole extra £5 for all that palaver? Pathetic.

I know! I was hopeful when they asked for payslips but there you go. I've asked them again the logic behind the extra £5 and i'm also dealing with this for my wife too so will be expecting the same offer. We'll hopefully end up with about £250/260 to cover both complaints. 

It's a bit of a pain but tbh i've not spent any great length of time on it. Most of the time has been spent trying to get them to up the compo a bit.

By the way, has anyone ever uploaded docs to government gateway as i'm guessing a certificate of interest from Zopa for the year should suffice and sort this out as they're taking their time as they've had the correct info for nearly 3 months now and still not sorted.

johnbhoy70

That's me done i think. As stated previously they upped my original offer from £125 to £130 and they responded earlier in the day and increased my wife's to £125 from the original £100. Why there is a £5 difference in the offers for 2 identical cases i don't know but i've had enough of Zopa for now without trying to understand their logic. 

Now onto HMRC and i'm going to try and upload a certificate of interest for said tax year as proof it was an error. They've already known this since October by all accounts but the wheels seem to turn very slowly at HMRC. 

Dazed_and_C0nfused

johnbhoy70 said:

That's me done i think. As stated previously they upped my original offer from £125 to £130 and they responded earlier in the day and increased my wife's to £125 from the original £100. Why there is a £5 difference in the offers for 2 identical cases i don't know but i've had enough of Zopa for now without trying to understand their logic. 

Now onto HMRC and i'm going to try and upload a certificate of interest for said tax year as proof it was an error. They've already known this since October by all accounts but the wheels seem to turn very slowly at HMRC. 

Ther should be no reason why you need to provide information like that to HMRC.

As others have previously posted HMRC are well aware of this issue and have no reason not to accept what you (verbally) tell them.

Is it possible that this has coincided with some other change to your tax situation and the code now in place is in fact correct?