We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Self-employed - declaring income
Comments
-
I am talking about the Santander 123 account - other similar accounts do exist. It is one of the ways of getting a half sensible rate of interest on your rainy day money.0
-
the cashback on the 123 account is not taxable because (notionally) it is your own money being returned to you funded (partially) from the £2 fee you pay each monthJohn_Pierpoint wrote: »I am talking about the Santander 123 account - other similar accounts do exist. It is one of the ways of getting a half sensible rate of interest on your rainy day money.
the interest however is, as you realise, taxable0 -
So when I fill in my tax return when I fill in the income box I don't have to declare cashback as income (as I haven't got any cashback on business expenses just my personal shopping), sorry for asking so many times to clarify I just want to get it right.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards