Put cashback on Tax Return form?

mdonaldson

Hi

I recently started using the Topcashback site to get money back on my ebay purchases as I buy most of my stock on Ebay. I also get cashback from a few of my personal Ebay purchases buy that is small compared to that on my stock purchases.

I wonder if when I fill in my tax return, I should add in this cashback somewhere on the form but where would be best? Do I count the cashback as business profit, as I got it mainly by making business purchases, or would it be something else?Where on the tax return form should it go?And when I collect my cashback, should I send the money to my business bank account?

Thanks

terryw

I would deduct it from purchases to arrive at the true figure for cost of sales.

terryw

reddevilled

I agree with terryw, as it is a discount as such as opposed to extra income.