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Self-employed - declaring income
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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
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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
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