Swagbucking into 2015 (Newcomers, please read the first post)

psi2244

The volvo ad is back again on sponsored vids

sunshine81

SWAG CODE ALERT! Enter SnagThisDeal in your SwagButton for 10 points towards your team/3 SB by 9pm BST! Weekly deals - 21% off everyday

qwiksand

Yipee! Searched for Rugby World Cup and got 4SB, a collectors bill and a 20 SB bonus for the complete set!

Wizzbang

Swaggems
for 17 singles

DepositSaver

Hi all
I hope this is the right place to post this, if not please move it.

I have just signed up for swagbucks and while doing to research on how to earn points, I came across various mentions that any income is taxable and that I should register with HMRC as self employed and complete a tax return. I am employed full time and taxed via PAYE so have never completed a tax return, and on looking at one it seems a rather long form, where I have to include all my income - from my employment and from savings accounts etc - as well as from swagbucks.

I am now wondering whether earning from swagbucks is worth it if I have to go to the trouble of completing a tax return? If I was going to make thousands then I would be more than happy to complete one, but for a small amount I'm not sure the earnings are worth the potential hassle of completing a return? Perhaps I am just assuming it's a hassle due to what I have heard from people who complete a self assessment? Is it actually quite straightforward? What are people's thoughts?
Thank you

fragmented

psi2244 wrote: »

The volvo ad is back again on sponsored vids

thanks although i was only able to get one of them to credit in chrome

psi2244

fragmented wrote: »

thanks although i was only able to get one of them to credit in chrome

Dont worry its been the same with firefox the last 2 times i've spotted its arrival.

Lost2

21sb and a CB for search Ulay

Raimonds

DepositSaver wrote: »

Hi all
I hope this is the right place to post this, if not please move it.

I have just signed up for swagbucks and while doing to research on how to earn points, I came across various mentions that any income is taxable and that I should register with HMRC as self employed and complete a tax return. I am employed full time and taxed via PAYE so have never completed a tax return, and on looking at one it seems a rather long form, where I have to include all my income - from my employment and from savings accounts etc - as well as from swagbucks.

I am now wondering whether earning from swagbucks is worth it if I have to go to the trouble of completing a tax return? If I was going to make thousands then I would be more than happy to complete one, but for a small amount I'm not sure the earnings are worth the potential hassle of completing a return? Perhaps I am just assuming it's a hassle due to what I have heard from people who complete a self assessment? Is it actually quite straightforward? What are people's thoughts?
Thank you

I'm not sure, if anyone on here would be able to answer Your question and concern thoroughly in 100% compliance with the laws on taxable income. They are indeed very complex to grasp. As far as I understand, that Swagbucks is not necessarily a selection of self employable tasks offered directly and paid directly by Swagbucks. All payments in Gift Cards have a non-monetary value. What left me a bit puzzled, is a payout through PayPal or to bank account (not in Swagbucks case). However, all incentives collected here via ad clicking, signing up for online or offline services seem to me as only a cashback. Cashback is usually classified as loyalty points, which is not a taxable income. Where it comes to directly signing up to survey companies, the great debate in tax man's favor may begin.

I hope, someone else might come up with other plausible explanations to this kind of earning (more like, collecting cashback to me).

To stay on a safe side, I'd personally stick to Gift Card payouts and avoid signing up directly to a survey company, without first finding out about tax returns.

rossy28

'darth vader mug' (don't ask..) for 7SB and a CB