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hacksaw

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hacksaw last won the day on October 23 2015

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About hacksaw

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  1. I have contacted the credit reference agency Noddle (CallCredit) twice about credit card lenders incorrectly placing a Minimum Payment Marker on my credit report with them. The lenders are Co-op Bank and Aqua. I have made payments that were marginally above (e.g. £1) the minimum payment with both lenders. I filed a dispute with Noddle. Both lenders have refused to correct the data. When contacting both, they both deny responsibility and say that they have no control over how Noddle displays the data. Co-op Bank even said that this means that I didn't make a full payment but made at least the minimum, which I know is untrue. I have since paid off Aqua in full so there's no longer a problem, but with Co-op Bank, it still displays. This could affect my credit rating, which they also deny. It appears that lenders are abusing the Minimum Payment Marker in breach of the Data Protection Act and punishing those who pay £1 or less over the minimum payment. Some MoneySavingExpert (MSE) users recommend paying £1 or even 1p above the minimum payment to avoid this marker. Other websites also recommend this. However, in my experience, this does not work. One user on MSE did mention paying 1% more to avoid this, but how do lenders get away with this? Under the Data Protection Act, the data that lenders give to the credit reference agencies has to be accurate. If a minimum payment is £10 and a payment of £11 is made on or before the due date, then it shouldn't be marked as the minimum payment made. I have searched for guidance on when lenders can place the Minimum Payment Marker but couldn't find anything. Credit Card Lenders that currently report the Minimum Payment Marker (that I am aware of) are: Co-op Bank Aqua Capital One Lloyds Bank Barclaycard MBNA GE Money HBOS This measure was announced on 24 November 2008 on the APACS website. The link has now been removed. Originally, five lenders agreed to share this information with the Credit Reference Agencies and has since increased. I have also had problems with other card issuers in the past (e.g. Capital One and Lloyds Bank) who also place a Minimum Payment marker if I paid £1 above the minimum payment, and not just with Noddle. Experian and Equifax are also reporting this.
  2. Please have a look at HMRC's Property Income Manual: https://www.gov.uk/hmrc-internal-manuals/property-income-manual/pim2210
  3. I've noticed on previous occasions that Fredrickson tend to leave out interest that HMRC charge on the debt when demanding payment, so that maybe one of the reasons why the amounts are different.
  4. hacksaw

    capital gains tax

    You will need to calculate periods of residence on a monthly basis. If the property was your Principal Private Residence (PPR) at some time, then the last 36 months will be deemed to be a period of residence. You will then need to apportion the period of residence/ownership. I assume that the garden is smaller than half a hectare and that there is no business use (letting is not generally considered business use). There may be also be deemed residence, but that will depend on your circumstances. Note that Husband and wife can only have one PPR between them. You may also deduct improvements you made to the property from your chargeable gains, but not the amount you owe on the mortgage. So to give you an example: Sale Proceeds 300,000 Acquisition cost (70,000) 230,000 PPR Exemption (155,056) 74,944 Letting relief (40,000) 34,944 Annual Exemption (11,100) Taxable 23,844 Capital Gains Tax Rate: starts at 18% and is 28% for higher rate (so a maximum of £6,676.72 based on the above example). PPR Exemption: (note this is not exact: you will need to use a monthly basis based on exact dates. Your dates are assumed to be on 1 January) Actual residence: 1.1.2001 - 31.12.2002: 24 months 1.1.2008 - 31.12.2012: 60 months Plus Last 36 months Total: 120 months Length of ownership: 1.1.2001 - 31.10.2015 (assumed sale date): 178 months 120/178 x £230,000 = £155,056
  5. Take a look at Marriage Allowance - it might save your partner £212 per year: https://www.gov.uk/marriage-allowance-guide/how-it-works
  6. I popped in to a Metro Bank branch in South London recently to open a business instant access deposit account. Their website says "No Metro Bank Business current account is required." They tried to sell me their business current account, which is not free unless you have more than £5,000. When I refused, they asked me why I wanted an instant access account, and I told them that I just want a basic account. They said that you cannot make an online transfer out unless you have another Metro bank account, so I opened a personal current account, and I was accepted for that, but a credit check was made, so it affected my credit rating. The business instant access account needed to be approved by a business manager. I called him the next working day. I work as a professional but I am not a member of a professional body (it is not illegal in the industry that I work in). He said they can't open an account because of this reason. I submitted further paperwork to his colleagues by visiting the branch (which is not in my home town) and waiting for about 25 minutes, after convincing him over the phone that would be acceptable to open an account. He then called me the next day saying that the account will not be opened because I will be using the business instant access account as a business current account and that I will be using it to deposit payments from customers He also said that they have a right to close it if I do. Nowhere does it say in the terms and conditions that you cannot use it as such. Also, their Account features state that you can use it as follows: • Receive electronic payments (CHAPS, BACS, faster payments, SWIFT, standing orders and internal transfers) • Pay in cash and cheques He also said that I cannot use the account to make an online transfer to my personal current account, even though I was informed by the customer service adviser who opened my personal current account that I could. To add insult to injury, I asked him to send me a letter or email saying why he is refusing to open the account, but he wouldn't do that, saying "we don't send out these letters." They have wasted my time. The business manager didn't say at first that a business current account was required. The excuse he gave me for not opening the account at first was that I was not a member of a professional body. Now he says you can't use the business instant access account as a current account, even though their website says that you don't need a business current account to open an instant access account. I made a formal complaint by telephone to the business centre. I explained what happened, but they defended him. They said he had the discretion to refuse to open an instant access account if it was to be used as a business current account. I challenged them to tell me the exact clause in their terms and conditions, but they couldn't find it. This is ridiculous. Why does he have full discretion? What if someone made a complaint against him? Now I am left with a credit check, which was made for a personal current account that was missold, and no business instant access account. Please do not trust anything this bank says about this account. They will try and sell you a business current account to make money out of you from charges, and they will refuse opening the instant access account by saying you cannot use it as a current account, even though there are no restrictions as such in their terms and conditions.
  7. Many thanks for your response. I think I was worrying for nothing - it does look like that they are not sending the item as I haven't received a response from the seller. Thanks again.
  8. Has anyone come across a case where a claim was made against a company for a debt that is over 6 years old who acknowledged the debt in their accounts, and not by writing to the creditor? I'm referring to a post on another forum (Accounting Web): http://www.accountingweb.co.uk/anyanswers/question/client-not-paying?page=1#comment-653977 (Apologies to mods if this isn't allowed) You don't need to read the full thread - just this post. The person posting said (s)he doesn't remember the case name, and I tried searching this forum but I couldn't find anything. Many thanks.
  9. Hi everyone, I bought an item from a Play.com seller (Playtrade) around mid-February for about £30 (an office machine). The Playtrade seller said he despatched the item the same day I ordered it but it turned out to be false. I contacted the seller several times by email and no reply. I filed a Missing Item Claim and a Fairplay Guarantee Claim but Play.com didn't reply to the latter. So I filed a chargeback with my credit card company (Capital One) and they refunded me the money. Today I received a letter from Capital One saying that they will give the seller 45 days to resolve the dispute. I called them up, telling them that I already purchased the goods from another retailer and that the seller is in breach of contract. I also asked them what would happen if the seller sends the goods, and they said they will reverse the chargeback. This is unfair. So the seller gets a whopping 75 days to send me the goods AND I end up paying for the goods twice because I bought it from another supplier. I told Capital One this, and they said I need to contact the seller and tell him I no longer want the order. So I sent the seller a message saying I'm cancelling the order, but Play.com give the seller 3 working days to reply. What would happen if the seller sends the item within this 3 working day period? Wouldn't that mean Capital One would reject my chargeback claim? Also I noticed that whenever someone writes the words "breach of contract" in the contact seller text box, Play.com automatically reject it and say "Your message contains inappropriate content". When I removed these words the message was sent! Unbelievable.
  10. An incorrectly issued default notice could be in breach of the Data Protection Act. Have a look at my thread where I tried to sue a debt collector, although I accepted early settlement. Obviously I can't guarantee it will work for you, but you could try something similar, if you want to.
  11. Are any of these betting companies financial spread betting by any chance? I have experience of dealing with these companies...
  12. Maybe make a Subject Access Request (SAR) under the Data Protection Act (costs 10 pounds).
  13. I just called the Police to report criminal damage to my car (mirror) done by teenage hooligan cyclists. They said that it was a Road Traffic Incident and not criminal damage! How could this be - that means that cyclists can DELIBERATELY damage a car and get away with it!
  14. OK I found the terms and conditions on their website (the latest ones) but not the original ones when I opened the account. From this I found the following that could be relevant to my case: My first sterling business account which I opened several years ago was closed in late January 2005. Could someone please confirm whether or not this overdraft is statute barred, or do I have to wait 6 years after the formal demand for repayment, when it is issued? Thanks.
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