We understand that navigating the complex landscape of claims can be a daunting task. That's why we have dedicated ourselves to providing streamlined solutions that alleviate the stress associated with the claims process.
With years of experience in the industry, our team of seasoned professionals have the expertise and knowledge necessary to handle claims efficiently and effectively. We have proudly cultivated a reputation for excellence. Our paramount goal is to put you, our valued client, at the forefront of everything we do. We believe in forging strong partnerships built on trust, transparency, and open communication.
Our dedication to excellence also extends to regulatory compliance. As a regulated claims management company, we adhere to the highest industry standards and maintain strict ethical guidelines. You can trust that your claims are handled with the utmost integrity and professionalism.
A recent Financial Conduct Authority (FCA) investigation discovered widespread evidence of mis-selling on all types of vehicle financing options. It found that over 560,000 consumers were paying more than 50% more on their car finance than they should be. Mis-selling was found on all motor vehicle types, including new and used cars, vans, motorcycles and motor homes/caravans, under all vehicle financing options such as personal contract hire (PCP), hire purchase (HP), contract hire or a car loan. The most popular of these has been shown to be PCP agreements which involves lower monthly payments followed by a final lump sum or ‘balloon’ payment. As PCPs are essentially interest-only loans, interest charges can be more expensive than anticipated.
The FCA found a increasing number of cases in which the broker was given discretion to adjust interest rates. Where a higher level of interest was charged to the consumer, a larger commission payment would be made to the Dealership by the finance provider. As one car dealer openly admits in a recent article, “frankly, we were getting away with murder. We weren’t treating customers fairly and were, in effect, charging them to earn us money.”
The FCA found that some dealerships and finance companies have been overcharging by up to £1,100 a deal. In some cases, it might have worked out better financially to opt into a hire-purchase package instead. It was also established that within the motor finance sector, firms have been largely misinforming their customers in communicating commission structures often resulting in customers unknowingly paying more for their vehicle finance. On many occasions the fact that a commission was being paid was not communicated. This was found to be happening at even the largest Dealerships including Audi, BMW, Mercedes and Land Rover (Black Horse) to name a few.
It is a requirement that any commission payment should be made clear to the purchaser as it could have an impact on their decision to proceed or negotiate further. All of this has meant that customers are now able to bring forward a claim, on various grounds, for financial compensation. The mis-selling of car finance has the potential to become the biggest compensation scandal of the decade as millions of customers come forward to claim what they are owed.
If you purchased a car from a Dealership, it is likely that they put you in touch with a finance company to provide the actual loan on the vehicle. We assist in checking if you are due compensation if the Dealership did not disclose that they were receiving a commission for arranging your finance agreement with the finance provider. This is known as a 'Section 140' claim. Both the Dealership and Finance Provider were obligated to be transparent and inform you of the commissions being paid – and if it was actually you who was paying this commission by the way they applied the interest rate.
A tax rebate is a refund of overpaid income tax which is paid to you by the government department called HMRC.
In many circumstances HMRC expects you to claim your refund of income tax which means tax rebates are not always refunded automatically.
The tax system is set up in a way that relies on each individual to check and manage their own tax affairs to make sure tax is not overpaid.
It is important to regularly check your tax position to ensure that you are not missing out on tax rebates from the past or overpaying tax currently.
What can I be owed an Income Tax Refund for?
You may be owed a income tax refund from HMRC for lot’s of different reasons and we cover some of the most common below. The tax office allows you to claim a tax rebate for the last four tax years so you should take this into consideration to make certain that you receive the maximum possible tax rebate.
Claim a Tax Rebate for your work related expenses
If you are an employee under PAYE you need to find out about employment expenses and other tax allowances. Employment expenses and other tax allowances exist to give you something back in certain circumstances. HMRC needs you to make a claim so they can refund the tax rebate you are eligible for.
Examples of the type of tax rebate you can claim include:
Uniform tax refund
Mileage tax rebate
Union or professional fees tax relief
Food and accommodation tax rebate
Tools and equipment tax refund
Working from home tax relief
Alphador Claims Uk is regulated by the Financial Conduct Authority is relation to claims management activities. Our firm reference number is 836928
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