Halifax Reward going down

Maximum_Saving
Maximum_Saving Posts: 183 Forumite
in Savings & investments
Today I read that it will pay £3.00 instead the £5.00 a month. It needs £750 a month and 2 direct debits.

Comments

  • Dazed_and_confused
    Dazed_and_confused Posts: 6,458 Forumite
    Uniform Washer
    My Halifax Reward is currently £6.25/month, how do you get the £5 one?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Name Dropper First Post First Anniversary
    Dazed_and_confused wrote: »
    My Halifax Reward is currently £6.25/month, how do you get the £5 one?
    By being a tax-payer. ;)
  • Dazed_and_confused
    Dazed_and_confused Posts: 6,458 Forumite
    Uniform Washer
    That explains it :mad:
  • adonis10
    adonis10 Posts: 1,810 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Slightly off topic but can the tax element of the reward be reclaimed? Halifax state that they have to pay 20% of it to HMRC therefore making the gross amount £6.25; surely the £1.25/month can be reclaimed if an individual's total savings interest is under 1k?
  • LuSiVe
    LuSiVe Posts: 1,059 Forumite
    First Anniversary Combo Breaker First Post Name Dropper
    adonis10 wrote: »
    Slightly off topic but can the tax element of the reward be reclaimed? Halifax state that they have to pay 20% of it to HMRC therefore making the gross amount £6.25; surely the £1.25/month can be reclaimed if an individual's total savings interest is under 1k?

    This has been done to death. It's not savings interest.
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    I wonder how much in shares you'd need in Lloyd's for this to be a good thing? I don't know how much divided will improve by
  • adonis10
    adonis10 Posts: 1,810 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    LuSiVe wrote: »
    This has been done to death. It's not savings interest.

    Ok .
  • elektra
    elektra Posts: 1,361 Forumite
    First Anniversary Combo Breaker Cashback Cashier
    adonis10 wrote: »
    Slightly off topic but can the tax element of the reward be reclaimed? Halifax state that they have to pay 20% of it to HMRC therefore making the gross amount £6.25; surely the £1.25/month can be reclaimed if an individual's total savings interest is under 1k?

    I have reclaimed it a few times in the past if I was putting in an R40 for other tax reclaims but I haven't bothered in years when Halifax was the only amount to reclaim.
  • Maximum_Saving
    Maximum_Saving Posts: 183 Forumite
    I am a carer so therefore I am not a taxpayer. I will try to get a R40 for a claim. I am very upset that the £5 will go to £3.
This discussion has been closed.
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