PPI

[patsparky]

I have received a PPI refund and the claim company want 20% which I was aware of, but they are asking for 20% of the gross payment 8% of which was paid to HMRC. I think they should ask HMRC for 20% of what they received and not me. I have received other payments from other companies the charge was on the net payment received

[wales01man]

Re: PPI

Do u expect HMRC to pay up?
What does the contract with CMC say about fees

[Amethyst]

Re: PPI

Which company is it ? ( so we can have a look at the terms)

It isn't unusual for you to pay the CMC 20% of the tax element of your refund but some companies have different terms.

[Turboman]

Re: PPI

Just a clarification of what those mentions of 8% and 20 %...

1 )You appear to be in an arrangement with CMC for 20% fee

2) You will have had the statutory 8% interest added to your refund

3) 20% of the 8% figure will have been deducted and sent to HMRC

[patsparky]

Re: PPI

Yes Correct

[Turboman]

Re: PPI

As Amethyst has said..it really depends on the t&c's of your agreement with the CMC

The bank is now obliged to deduct an amount of your 8% statutory interest refund at the basic tax rate (coincidentally also 20%) and if your circumstances allow..it is up to you to reclaim it from HMRC. ..Obviously HMRC will not discuss any of this with the CMC

If you are not eligible for the refund then the CMC claim would be correct...(imo)