PPI

[fatowl]

I did it myself and scored about £7k out of the b@stard bankers. It took about 10 hours work over three months and was super easy.

P!ssed all the money up the wall and thoroughly enjoyed every second of it (thumbs)

Hope you have informed HMRC of your refund..............the tax man wants his cut too

If you haven't informed HMRC, it's tax avoidance :whistle:

(You pay tax on the 8% interest received as compensation, on top of the original insurance premium )

We had a payment sent to us and there were 2 figures quoted. The original sum due and the after tax deducted one.

They sent us a check for the latter.

Why do they want to tax you on a refund of money you've paid for something you didn't need (or want) ?

[garyboy]

JB has answered that?

[johnnyboxer]

Is it me or will the customers eventually end up paying for the costs of all this ppi claiming?

You already are
Banks will make it up somewhere and all of us pay

[johnnyboxer]

I did it myself and scored about £7k out of the b@stard bankers. It took about 10 hours work over three months and was super easy.

P!ssed all the money up the wall and thoroughly enjoyed every second of it (thumbs)

Hope you have informed HMRC of your refund..............the tax man wants his cut too

If you haven't informed HMRC, it's tax avoidance :whistle:

(You pay tax on the 8% interest received as compensation, on top of the original insurance premium )

We had a payment sent to us and there were 2 figures quoted. The original sum due and the after tax deducted one.

They sent us a check for the latter.

Why do they want to tax you on a refund of money you've paid for something you didn't need (or want) ?

Because the compensation amount is not taxed as it's your compensation for your loss
However the banks are paying 8% interest on your compensation payment x the number of years it was taken out from to today's date
The interest element of your payment is a Capital Gain and therefore taxable by HMRC
You need or declare it or the bank pays it on your behalf- hence the 2 figures
You get the lower amount and the bank sends the money to HMRC on your behalf
Job done

[garyboy]

well . … its all a loada bolloxxes

3 applications .. all turned down
so I is still not a millionaire

[ollydog]

i have had ppi and i did ask for it with barclays so i wont be claiming but out of interest i did ring barclays and they denied that, i had, dug out some old statements and there it was, i felt like claiming just for being fobbed off, but conscience always gets the better of me.

steve

[daveuprite]

i have had ppi and i did ask for it with barclays so i wont be claiming but out of interest i did ring barclays and they denied that, i had, dug out some old statements and there it was, i felt like claiming just for being fobbed off, but conscience always gets the better of me.

steve

Many people are finding that it's Barclays (or Woolwich, which was taken over by Barclays) that is refusing their PPI repayment applications. Looks a bit like they have a policy of hoping people get fed up and go away and then the whole process times out this Autumn.

We got £2500 back from HSBC within 3 weeks of phoning them, together with an apology for the mis-selling etc. Barclays seem to be deliberately dragging their feet. We have a couple of claims in to them from some old Woolwich PPI, and it's like pulling teeth compared to HSBC.

[garyboy]

I agree that B,,clays can be awkward .. and B/card the worst credit card to get stuck on.
I applied and got 3 refusals, including other claims .. then got a letter asking for more info .. stuff I aint got anymore .. dates firms supervisors names (agency work) so just ignored it till I could be assed.


looked at my bank balance yesterday .. yep near 900 in debt, (overdraft)
looked today .. after my pension paid .. 500 ... fukk they must have paid me too much?
FAKK facc blooddyy EL .... it waz +500 .. not -500

bcard had come through with over 1300


goly gosh flippin ekk

[daveuprite]

I agree that B,,clays can be awkward .. and B/card the worst credit card to get stuck on.
I applied and got 3 refusals, including other claims .. then got a letter asking for more info .. stuff I aint got anymore .. dates firms supervisors names (agency work) so just ignored it till I could be assed.


looked at my bank balance yesterday .. yep near 900 in debt, (overdraft)
looked today .. after my pension paid .. 500 ... fukk they must have paid me too much?
FAKK facc blooddyy EL .... it waz +500 .. not -500

bcard had come through with over 1300


goly gosh flippin ekk

Yaaaay! Result!

So what's that then? A Klim suit? Most of a TTR250?

(Or perhaps a week's hotel stay in Brussels with Michel Barnier and Guy Verhoffstad? )

[garyboy]

I agree that B,,clays can be awkward .. and B/card the worst credit card to get stuck on.
I applied and got 3 refusals, including other claims .. then got a letter asking for more info .. stuff I aint got anymore .. dates firms supervisors names (agency work) so just ignored it till I could be assed.


looked at my bank balance yesterday .. yep near 900 in debt, (overdraft)
looked today .. after my pension paid .. 500 ... fukk they must have paid me too much?
FAKK facc blooddyy EL .... it waz +500 .. not -500

bcard had come through with over 1300


goly gosh flippin ekk

Yaaaay! Result!

So what's that then? A Klim suit? Most of a TTR250?

(Or perhaps a week's hotel stay in Brussels with Michel Barnier and Guy Verhoffstad? )

I can't think of a better evening out than a night in a hotel sharing a bed with Guy and Nigel …. sure to get a good nights sleep.

Must admit the li'l 'ole head did spin a bit when I thought of getting a van/minibus .. to carry the crf250L and camp out …. I used to have a mitzi delica, but it rusted underneath

I could get one side of a brake pad set for the crf

but actually I am going to try to be sensible ha ha joke, as if... but will try


I can now get my cheap old car back on the road, and help my daughter with her first payment on her newish car wot she dun bought (expensive) … and try to stay in the bank black … and save £25 per month OD fees
also just paid off last payment for my new laptop


will wait to see if I get a tax bill ???????????????????????
or problems with the pension people??/
but got less than 6000 saving ??