Halifax Rewards - gross or net?

thebritishbloke

YorkshireBoy wrote: »

So is it your intention to call every month, or every few months, and ask them to manually credit a "tax refund"?

No, as you can see, the reward was paid gross. The tax refund was for previous months that were paid net. From now on it should automatically come through as gross.

YorkshireBoy

Thanks. That'll teach me not to skim read!

Sam112_2

I was rejected for this account in may is it too soon to reapply? Sorry if this was off topic.

YorkshireBoy

Sam112 wrote: »

I was rejected for this account in may is it too soon to reapply? Sorry if this was off topic.

What's changed in your financial circumstances between then and now?

If you're sure Halifax haven't re-jigged/relaxed their credit scoring model, then you'll need to show you're a better prospect now than you were then!

And yes, you would have been better starting your own thread.

MegaMiniMouse

thebritishbloke wrote: »

No, as you can see, the reward was paid gross. The tax refund was for previous months that were paid net. From now on it should automatically come through as gross.

I couldn't face the prospect of trying to have this conversation over the phone, so I battled my way through to the Halifax complaints procedure - I gave them the link to this thread, and asked them to include me in the gross payment option. I wait for their phone call with bated breath (does anybody know the difference between bated breath and ordinary breath?).

thebritishbloke

MegaMiniMouse wrote: »

I couldn't face the prospect of trying to have this conversation over the phone, so I battled my way through to the Halifax complaints procedure - I gave them the link to this thread, and asked them to include me in the gross payment option. I wait for their phone call with bated breath (does anybody know the difference between bated breath and ordinary breath?).

Bated breath is if you're reducing your breath/breath rate.

Good luck with getting it sorted.

PeacefulWaters

thebritishbloke wrote: »

It's still stupid that they refuse to pay it, since on their own website they admit that it's £6.25 but paid net. Can't be any more difficult than paying gross interest.

It's HMRC who don't allow it.

Clearly the bank's systems support it and some of their staff are silly.

xylophone

It's HMRC who don't allow it.

http://forums.moneysavingexpert.com/showpost.php?p=41200528&postcount=29

Post 29

jennifernil

MegaMiniMouse wrote: »

Thanks, I read the first 10 pages or so before falling asleep. Hopefully the Halifax will send me some kind of annual statement which will satisfy HMRC.

Halifax will send you a statement of reward payments, but you will still have to satisfy HMRC that you are entitled to the tax back by declaring the rest of your income.

The R40 is only 4 sides, most of which you will probably not be filling in.

I have pension, bank interest, and Rewards, it takes me about 5 minutes to add up the interest, work out my total pension, and enter it all on the form.

Less time than writing a letter.

Just fill in the form.

You will get your refund after a few weeks.

MegaMiniMouse

MegaMiniMouse wrote: »

I couldn't face the prospect of trying to have this conversation over the phone, so I battled my way through to the Halifax complaints procedure - I gave them the link to this thread, and asked them to include me in the gross payment option. I wait for their phone call with bated breath (does anybody know the difference between bated breath and ordinary breath?).

There's good news, and there's bad news...

The good news is that I received a call around 0930 this morning in response to the emailed 'complaint' which I sent yesterday afternoon.

The bad news is that the lady who called me hadn't actually bothered to read the email before calling.

The good news is that after I repeated the contents of my email to her, she admitted that she didn't really have a clue, but that she would call me back.

The bad news is that she didn't even seem to know anything at all about how the Rewards account works.

The good news is that she called me back within 30 minutes.

The bad news is that she still didn't have a clue about the tax liability which is attached to the monthly Reward - she simply repeated the mantra that the Reward payments are not interest payments, and £5 a month is all I can get. I tried to explain that it would be much simpler for me to receive my Rewards gross of tax, rather than having to trouble HMRC every year for a £15 refund, and I tried to tell her (again) about BritishBloke's situation, but she was completely unable to get her head around what I was saying - she appeared to have the attention span of a goldfish.

The good news is that she called me for a third time in order to tell me that she had had further discussions with her colleagues.

The bad news is that her advice was that I would possibly be able to increase my monthly £5 Reward to £6.25 if I were to phone up HMRC on a monthly basis.

LOL