How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TaxRobin Your Own Question
TaxRobin
TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 15327
Experience:  International tax
14155347
Type Your Tax Question Here...
TaxRobin is online now

I have a company contacting me re-PPI called I-sign, they are

Resolved Question:

I have a company contacting me re-PPI called I-sign, they are bringing me a cheque for 2500.00, however they say I have to get a PAY SAFE voucher from the post office, which they will stamp and when I cash the cheque the bank will take 250.00 and send to the tax office???? please advise me as I am worried this is a scam
Submitted: 1 year ago.
Category: Tax
Expert:  TaxRobin replied 1 year ago.
HelloScammers trick members of the public by suggesting to the person they’re calling that they could be owed money - often for repayment of bank charges, payment protection insurance (PPI), or a court settlement - but first ask for an up front payment from the consumer in order to enable them to receive the money.If they are asking for money upfront from you and have contacted you out of the blue, it is generally a scam.
Customer: replied 1 year ago.

they haven't asked for money up front but have said I need to get the voucher? is that what happens normally with ppi you send a % to inland rev?

Expert:  TaxRobin replied 1 year ago.
Payment protection insurance (PPI) is an insurance product that enables consumers to insure repayment of loans if the borrower dies, becomes ill or disabled, loses a job, or faces other circumstances that may prevent them from earning income to service the debt.You could owe tax on a payout but on the interest portion and if you have made a claim. A bank would not withhold and pass on the tax if they paid you back the overage. Another company is supposed to send the tax themself.You need to check first if this company is claiming to be repaying you a overcharge for PPI and tell them to handle the tax withholding and sending in the tax if any is due.
Customer: replied 1 year ago.

can you advise me of someone I could contact to clarify that this is all above board?

Expert:  TaxRobin replied 1 year ago.
If the company is a claims management company, that you initiated the assistance from then they genrally would request a fee.Be cautious if they claim to have done the groundwork already and have the compensation just waiting to be paid out.Requests for instant payments, such as bank and money transfers, or hard-to-trace electronic payments, such as UKCASH and PaySafe, are all indicators of an attempt to request money anonymously.Legitimate claims management companies, on the other hand, calculate their fees based on a percentage of the total compensation paid out and deduct it at the end of a claim.You can contact ActionFraudhttp://www.actionfraud.police.uk/
TaxRobin and other Tax Specialists are ready to help you

Related Tax Questions