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    • Well before you can determine if its Statute Barred you need to find out what it is......do they refer to an account number ? If so send them a CCA request section 78...see if that throws any light on the alleged debt.   Andy
    • Hello All - I've received a letter today from Cabot Financial advising that they are passing on a debt to Global Debt Recovery Ltd as they haven't been able to contact me. I haven't received any letters from Cabot for a couple of years and those letters didn't quote any amount like £7000. I haven't ever contacted Cabot either. My address hasn't changed for over 10 years.   The letter states that the outstanding balance is around £7000 and the Original lender according to this letter is SAV Credit. I don't recognise this debt amount as I've never had a credit card with that sort of credit amount (4000 was my max limit) and I don't recognise 'SAV Credit'. I've checked my credit file and nothing new has been added. I have one CCJ granted in 2015 for £3500 which I assume expires at the end of this year.   On the other side of the same letter Global Debt Recovery are asking me to contact them to arrange a repayment on this debt. My financial problems are from around 2012/2013 and I'm sure I was unable to make any repayments to my debts from around that time so I'm assuming that this would make this debt 'statute barred' anyway. I was made redundant a few years ago and I'm on Universal Credit at the moment and have no way of paying this kind of money. I'm not too keen on just ignoring this type of letter as that has caused me problems in the past.   Would appreciate any advice Thank you           
    • mrabody   No loss, just general damages as per Durkin.   The bank has already paid out £750 for the distress and inconvenience they've caused in taking too long to mark the account as settled and passing the debt onto a DCA. However, they would not accept damage to the credit status from 2014 even after admitting that the account should have had a default status and that the same would have fallen off in 2014.   Ill post their letters when I receive the contents of my DSAR.             
    • forget the texts and emails...irrelevant, dont lambast him too hard about doing the right thing by ignoring them.   as to where you go. yours is not the next move. other than gather/await then digest all the info.   dx  
    • It follows criticism that firms take a large proportion of compensation for mis-sold financial products. View the full article
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    • Hi @BankFodder
      Sorry for only updating you now, but after your guidance with submitting the claim it was pretty straight forward and I didn't want to unnecessarily waste your time. Especially with this guide you wrote here, so many thanks for that
      So I issued the claim on day 15 and they requested more time to respond.
      They took until the last day to respond and denied the claim, unsurprisingly saying my contract was with Packlink and not with them.
       
      I opted for mediation, and it played out very similarly to other people's experiences.
       
      In the first call I outlined my case, and I referred to the Contracts (Rights of Third Parties) Act 1999 as the reason to why I do in fact have a contract with them. 
       
      In the second call the mediator came back with an offer of the full amount of the phone and postage £146.93, but not the court costs. I said I was not willing to accept this and the mediator came across as a bit irritated that I would not accept this and said I should be flexible. I insisted that the law was on my side and I was willing to take them to court. The mediator went back to Hermes with what I said.
       
      In the third call the mediator said that they would offer the full amount. However, he said that Hermes still thought that I should have taken the case against Packlink instead, and that they would try to recover the court costs themselves from Packlink.
       
      To be fair to them, if Packlink wasn't based in Spain I would've made the claim against them instead. But since they are overseas and the law lets me take action against Hermes directly, it's the best way of trying to recover the money.
       
      So this is a great win. Thank you so much for your help and all of the resources available on this site. It has helped me so much especially as someone who does not know anything about making money claims.
       
      Many thanks, stay safe and have a good Christmas!
       
       
        • Thanks
    • Hermes and mediation hints. https://www.consumeractiongroup.co.uk/topic/428981-hermes-and-mediation-hints/&do=findComment&comment=5080003
      • 1 reply
    • Natwest Bank Transfer Fraud Call HMRC Please help. https://www.consumeractiongroup.co.uk/topic/428951-natwest-bank-transfer-fraud-call-hmrc-please-help/&do=findComment&comment=5079786
      • 31 replies
    • Hermes lost parcel.. Read more at https://www.consumeractiongroup.co.uk/topic/422615-hermes-lost-parcel/
      • 49 replies

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Just a quick question, probably a simple answer. I get paid a yearly bonus, this year it was close to £3000, but I've only ended up with £1800 home. My pay is in the region of 30k.

 

 

Why am I taxed so heavily? I know I'll get taxed on all of the bonus, but it seems way more than the 20% tax rate. Is it because the system is assuming I'll get paid at that rate for the remainder of the tax year, and I'll get some back next month? or what's going on??

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Looks about right to me. On a basic of £30k the tax rate would be 20%, but the £3k bonus pushes the annual income into the 40% bracket (above £31,785 for this year)

 

So - tax would be payable at 20% for the first £1785 of the bonus - £357

 

Tax payable at 40% for the remaining £1215 of the bonus - £486

 

Plus National Insurance at 12% payable on the entire £3000 - £360

 

Total deductions - £1203

 

Net Bonus - £1797

 

Harsh, but not wrong unfortunately....ad no rebate due either!

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no, that is not how tax bands and percentages work.

Never assume anyone on the internet is who they say they are. Only rely on advice from insured professionals you have paid for!

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Seems very unfair :(

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Its £31,785 above the personal allowance. Therefore the OP is still in the 20% tax bracket. Any overpayment will be paid back eventually, either in dribs or drabs or after the end of the tax year.

 

Looks about right to me. On a basic of £30k the tax rate would be 20%, but the £3k bonus pushes the annual income into the 40% bracket (above £31,785 for this year)

 

So - tax would be payable at 20% for the first £1785 of the bonus - £357

 

Tax payable at 40% for the remaining £1215 of the bonus - £486

 

Plus National Insurance at 12% payable on the entire £3000 - £360

 

Total deductions - £1203

 

Net Bonus - £1797

 

Harsh, but not wrong unfortunately....ad no rebate due either!

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Whoops! My bad. In which case disregard my maths - OP, it seems that you may indeed be due a rebate!

 

Thought my figures calculated a little too neatly...

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The PAYE system works on a "cumulative" basis so, each month, your total pay to date (since 6th April) is reduced by your tax free allowances for the year so far.

 

The same applies to the basic rate tax band which is £31,785. Each month, 1/12th of this (£2,648.75) is applied to the net pay after tax allowances.

 

For example :-

 

Pay date 30.9.15 (tax month 6 of 12)

Pay to date this tax year £18,000

Cumulative tax allowance = 6/12 x £10,600 = £5,300

Cumulative basic rate band = 6/12 x £31,785 = £15,892.50

 

Pay to date 18,000

Tax all'ce 5,300

Taxable 12,700 which is within the basic rate band.

Tax due to date 2,540

 

Class 1 NIC would be payable but this doesn't affect the tax bands.

 

I assume you're on a tax code of 1060L. Let us know if you're not as this will affect the case.

 

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