Survey sites - questions on tax

novamation

dave4545454 wrote: »

no don't bother informing the tax man about vouchers, read this thread

http://forums.moneysavingexpert.com/showthread.html?t=2057887

yeah, that's the thread I started, oddly enough, I was just gonna say I'm glad I found this thread, it's actually giving me the answers I wanted:p

I know, I know, it's a tricky area.

Lethal

I doubt someone will know an answer to this but:

I am 17, go to school and dont have a job. Therefore i am not taxed on anything. Would i still need to declare it because i think theres a certain tax-free allowance ?

MS_Dolphin

Hi Lethal,

Yes you would still have to declare any income. Even if you were 5 years old and without a job it is taxable income and has to be declared.

You are right though and every individual - including the 17 (and 5) year old has their own annual personal tax free allowance. Therefore, if this is your only income, it would be taxable income, but you wouldn't have to pay any tax on it - clear

Lethal

Thanks very much. Out of interest, you wouldn't know what that annual personal tax free allowances would be? Or is it different for everyone?

LittleVoice

Lethal wrote: »

Thanks very much. Out of interest, you wouldn't know what that annual personal tax free allowances would be? Or is it different for everyone?

Personal allowance for the current tax year (ending 5 April 2010) is
£6,475. Up to now in the year you would have been able to earn £3777 before paying tax.
(The personal allowance does increase when you reach age 65 and 75!)

Sam_G_3

Well I'm self employed anyway (run my own business) so I might just phone up HMRC and get confirmation from the horse's mouth so to speak. I've no problem declaring vouchers/money received (I don't intend on making a living from survey sites) it's just something I do in my spare time.

No offence to the people that have replied on this thread so far, but it looks to me like some declare their 'earnings' to HMRC and some don't...

JP45

Sam_G wrote: »

No offence to the people that have replied on this thread so far, but it looks to me like some declare their 'earnings' to HMRC and some don't...

There's a list on the HMRC website of what counts as taxable and non-taxable income:

http://www.hmrc.gov.uk/incometax/taxable-income.htm#4

There's no specific mention of gift vouchers but FWIW I've been including them on my self-assessment tax returns under 'Any other income' as they are clearly just another form of income.

If you think about it, why would a £10 cheque from one survey site (eg Panelbase) be treated as taxable income and yet a £10 Amazon voucher from another site (eg Toluna) be considered non-taxable?

As far as I can see, there is no valid reason to suppose that a gift voucher from a survey site is anything other than a form of taxable income.

susie81

I'd say regular is more than once in a blue moon. My OH goes on to check his survey emails a few times a week and therefore is regular. He does only do cash ones I think though rather than vouchers so I don't have the issue myself.

My manager had said there's no point declaring survey income at all because it is so small but I'm too honest for my own good so will do everything properly and I don't want to get caught out by the non-registering penalty.

Also, and sorry to anyone who works for HMRC, you're probably the exception, but don't always take what the HMRC call centre says. They can still catch you on something at a later date - change their mind so to speak. Make sure you write down who you have spoken to etc.

I speak to HMRC nearly every day in my job, they can be frustrating and don't always tell you the right thing. I don't have a lot of confidence in them. Wrong information or paperwork going missing and the one hand not knowing what the other is doing sort of thing. Hence why I've made sure I am completely thorough for my OH so we can't get in trouble at all - I can't afford to pay penalties by thinking we will be ok.

My opinion is clearly to declare everything, which I confirmed in the tax return guide I have on my desk. I couldn't find anything else specific on HMRC's website or in their manuals re vouchers but I'm going to see if there is anything in one of my tax books at home.

Overall you'd probably get away with it but be aware of the risks.