CPP

[Guest]

Got a payout from these this morning, only a couple of hundred quid, I filled claim in for my OH which I hope should be more substantial, but every little helps

[FlamingParrot]

Re: CCP

Do you, by any chance, mean CPP, a.k.a. Card Protection Plan? If so, it's good news since I've also got some forms. :whoo::whoo::whoo:

[enaid]

Re: CCP

Me too on behalf of my dad need to return them and copy of LPA

[enaid]

Re: CCP

Andy what reason did you put for mis sale?

[FlamingParrot]

Re: CCP

Andy what reason did you put for mis sale?

I had 2 policies.

• One from 2001 or thereabouts, certainly before 2003, which I thought came with the current account (A&L), where you had to list all your cards.
• The other, from 2005/06, which I also thought came with the same account, but this was for ID theft.

[enaid]

Re: CCP

Well dads was probably sold in branch when it was A&L or over the phone by Santander, not sure how far it went back tbh as only been doing his finances just over 4 yrs I cancelled it as soon as I spotted it (over the phone) but the cheeky buggers took it out again lol. As he only had a debit card never used as he went in branch in them days to withdraw i will just say it was of no use to him.

[FlamingParrot]

Re: CCP

Mine were both over the phone, I paid one for over ten years, the other around 7 years. I did have lots of cards in 2001 but you were always able to report them if you lost them so no need for such a policy.

[enaid]

Re: CCP

No, that's the main point of the mis sale the fact the bank covered fraud and theft.
You still have to put a reason on the form though

[Guest]

Re: CCP

Yes sorry CPP.

I just put reasons as stated overleaf and in addition I was told that the insurance was a requirement of the credit facility. Just exactly that. To be honest I did not expect anything to come of it.

[CYNthesys]

Re: CCP

Yesterday I received a CCP cheque for a net amount of £55.29 including statutory interest, however there was no breakdown as to how this figure was arrived at. Pretty sure I was only with CPP for 1 year back in 2005/06 then cancelled when I realised this was being debited to my account.
One thing I found strange was that tax at 20% had been deducted from the interest element, yet if someone wins a court case and is awarded statutory interest, it is paid in full and is not automatically subject to 20% income tax ????

[enaid]

Re: CCP

You now pay tax at 20% on most compensation claims including PPI

http://www.hmrc.gov.uk/manuals/saimmanual/SAIM9115.htm


You may be able to reclaim it

http://webarchive.nationalarchives.g...news100512.htm

[CYNthesys]

Re: CCP

As Im on an extremely low income and don't pay tax I will have to wait until the tax year end in 2015 to be able to reclaim it, Will I be able to claim interest on the tax that has been deducted

[enaid]

Re: CCP

As Im on an extremely low income and don't pay tax I will have to wait until the tax year end in 2015 to be able to reclaim it, Will I be able to claim interest on the tax that has been deducted

You may not have to wait till end of tax year and I doubt you could claim interest.

[Guest]

Re: CCP

Yesterday I received a CCP cheque for a net amount of £55.29 including statutory interest, however there was no breakdown as to how this figure was arrived at. Pretty sure I was only with CPP for 1 year back in 2005/06 then cancelled when I realised this was being debited to my account.
One thing I found strange was that tax at 20% had been deducted from the interest element, yet if someone wins a court case and is awarded statutory interest, it is paid in full and is not automatically subject to 20% income tax ????

Yes I noticed this also. The tax is taken form the statutory interest I see, so you get the 8% minus 20% if that figure, on top of the sum you paid in premiums.

However it did say that you could reclaim this if you were below the threshold.

[wales01man]

Re: CPP

My better half just got £178 back from CPP a Result comes in handy just negotiating my share!