Tax return query re cash back and fees

Motormad

Hi,does anyone know if you declare cash back and bonuses from current accounts,also do you deduct account fees from your interest calculation.Thanks in anticipation!

MDMD

Cashback paid on switching, or from a 123 account on DDs is not taxable (HMRC treat them as discounts in most cases).

The fee paid is not deductible either unfortunately for an individual.

Motormad

Thanks for the prompt response and what I was wanting to hear,will save a bit of counting pennies.