Cash Rewards

dougzz

Firstly, I apologise if this is not the right forum, it was hard to decide where it belonged.
With things like Halifax £5/month account reward, and account opening incentives like Yorkshire's £150, how should these be treated for income tax?
A similar but maybe different question would be for OVO Energy's 'Interest Reward'.
Since none of these things deduct basic rate tax I assume they're not 'interest' in the legal sense?
With OVO I notice they deduct it before the addition of VAT, so assume there it really is a discount rather than an 'interest' payment?
Should the incentives be included in any other income on a tax form?
Has anyone tested this, have there been any disputes with HMRC on this sort of thing, or just small amounts of no interest?

Vortigern

The Halifax fivers question has been answered many times before. The £5 is the net amount after deduction of basic rate tax. Non-taxpayers can reclaim the tax from HMRC using form R40, but they can't use R85 to have it paid gross.

YorkshireBoy

One-off joining/switching incentives are not taxable. To see why, look it up on the HMRC website.

Your Halifax question is answered on their website, in several places. You must have missed it when researching the account?