Cashback article discussion

maccaz

Has anybody used
http://www.grabitnowcashback.com/

Is it any good and how does it compare to other cashback sites?

Thanks

bristolleedsfan

maccaz wrote: »

Has anybody used
http://www.grabitnowcashback.com/

Is it any good and how does it compare to other cashback sites?

Thanks

Its a 50% ( or less) version of wepromiseto, its best IMO to stick to 100% Cashback sites.

alx_4

Silly question no doubt , i have searched for the forum this should be in and i think this is as close as i can get (no doubt i'm wrong). Anyways silly question-

The money you earn from cashback sites from the click through pages or even from the surveys you get paid for from other companies. Do you have to pay tax on any of these and do you do this by informing HM revenue?
Again apologies if this is obivious.

Regards

bristolleedsfan

alx wrote: »

The money you earn from cashback sites from the click through pages or even from the surveys you get paid for from other companies. Do you have to pay tax on any of these and do you do this by informing HM revenue?
Again apologies if this is obivious.

Regards

From a number of posts on the subject over a period of time its believed that HMRC regard Cashbacks as being "rewards" and not earnings and therefore not liable for Income Tax, exception being referral payments which HMRC are believed to class as earnings.

http://www.hotukdeals.com/forums/archive/index.php/t-57074.html

http://forums.moneysavingexpert.com/showthread.html?t=771527

johnllew

alx wrote: »

The money you earn from cashback sites from the click through pages or even from the surveys you get paid for from other companies. Do you have to pay tax on any of these and do you do this by informing HM revenue?

Yes. It is only the cashback on personal purchases that you do not have to declare.

http://forums.moneysavingexpert.com/showthread.html?t=1077025

johnllew wrote: »

The Revenue view on cashback was outlined in Statement of Practice SP4/97. Basically, cashback on normal personal transactions (from cashback sites or cashback credit cards, cashback on mortgages etc) is exempt but tax is likely to arise on:

- cashback earned on purchases in the course of one's business or in respect of expenditure made on behalf of an employer.

- cashback earned (particularly from cashback websites) where no purchase is involved, or where multiple cashback transactions are made where there is a profit (for example Magazine Group trial purchases where cashback exceeds the trial cost).

This has been discussed here a few times before.

alx_4

do u know if this applies to paid surveys too? regards again

johnllew

alx wrote: »

do u know if this applies to paid surveys too?

You're doing work for which you are being paid; bound to be taxable.

johnllew

bristolleedsfan wrote: »

From a number of posts on the subject over a period of time its believed that HMRC regard Cashbacks as being "rewards" and not earnings and therefore not liable for Income Tax, exception being referral payments which HMRC are believed to class as earnings.

http://forums.moneysavingexpert.com/showthread.html?t=771527

I can't see how you can come to that conclusion if you're basing it on the contents of the thread to which you've linked.

With regard to the HUKD thread, I can't see that anyone there really appreciated the point at issue.

tightasabulls

Hi guys.

Any reports on either UKRewards or MRmoneyback??

I am looking for cashback before i buy tesco value car insurance.

Many thanks..

Lady_K

tightasabulls wrote: »

Hi guys.

Any reports on either UKRewards or MRmoneyback??

I am looking for cashback before i buy tesco value car insurance.

Many thanks..

You havent joined mrmoneyback have you? Dont join up or use that site they are a complete con. I use loads of sites and this one has not confirmed anything ever or replied to any emails sent. I stopped using it about 14 months ago, they dont answer emails the site is really amateur