Frequently Asked Questions

Some of our client’s most commonly asked questions

Are Goldman Smith Claims Management Ltd regulated?

Goldman Smith are authorised and regulated by the Financial Conduct Authority (Financial Services Register Number 835139)  https://register.fca.org.uk/

How long does a claim take? 

This can depend on a variety of factors, but we work on the assumption that a claim will take around 12 weeks. This gives the business, whom your claim is against, time to provide us the information we need to investigate it and if we think your claim is viable, 8 weeks for the business to respond to it under the FCA’s rules.

How much is my claim worth? 

Any offer of compensation a business makes to you is calculated using a specific formula. For example, if you were mis-sold PPI the business responsible would be expected to give you back all the premiums you paid in and pay compensatory interest on top.

Please note that income tax is likely to be deducted from any compensation you’re entitled to and we are not responsible for any overpayments of your own tax. 

Does it matter if I don’t have any paperwork anymore? 

Typically, no. We will usually be able obtain all the information we need from the business/person your claim is against.

How far back can you go? 

This depends on a number of factors, but we’ll normally be able to go back as far as your relationship with the relevant business goes. So, if you’ve had a relationship with a Bank for 30 years, we will normally be able to go back 30 years.

What difference does it make using a Claims Management Company? 

The simple answer is; it doesn’t. Using our service won’t have any effect on the outcome of your claim. But that doesn’t mean you should write off using us altogether.

Many consumers find making complaints stressful, and if what they’re complaining about is particularly important to them; it can be emotional too. We will remove that stress and handle it for you, leaving you to focus on the other things that are important to you.

What’s the difference between “gross” and “net”? 

When a business pays you compensation, they normally deduct income tax from it at the prevailing the rate and pay it directly to HMRC for you. The payment you’re entitled to before any tax is deducted is called the “gross” amount. The payment you are entitled to after that deduction is the “net”. Our fees are based on the “gross” amount. We’ve explained this in more detail on our “fees & charges” page.

Didn’t get the answer you’re looking for? Give us a call on 01270 769481 and we’d be happy to help.