Tax Changes - Halifax Reward

Biggles

fuzzgun19 wrote: »

Can I fill in a form to claim this back?

Only by stating that it's interest, which it isn't.

The R40 doesn't have a section for 'Reward payments'.

sheramber

Biggles wrote: »

Only by stating that it's interest, which it isn't.

The R40 doesn't have a section for 'Reward payments'.

boxes 7.4 and 7.5 ---- other income

fuzzgun19

sheramber wrote: »

boxes 7.4 and 7.5 ---- other income

Thanks. Plus it does say 'Tax deducted' on the statement.

Westie983

Biggles wrote: »

Only by stating that it's interest, which it isn't.

The R40 doesn't have a section for 'Reward payments'.

you use the other income box, I have been doing the same for the last eight years. I photocopy the annual certificate and attach to the back of the R40 and I get a cheque in the post, in a few weeks for the £15.

Compound_2

Budget 2016 introduces from April 2017 a £1000 allowance for everyone, for so-called 'other income' (Sharing Economy).

polymaff

Compound wrote: »

Budget 2016 introduces from April 2017 a £1000 allowance for everyone, for so-called 'other income' (Sharing Economy).

We await more details, but I doubt that these payments will come within the scope of "trading"

RandomUser923759

Sorry to dredge this up again, but I thought it would be better than starting a new thread.

I just received my notification summary for the year april 15 -april 16 (before the new tax break)

it startes I received 43.75 gross, 8.75 tax was deducted and I got 35.00 in my bank net.

Now that there is a tax break surely they should be paying 6.25, as effectively thats what they were doing last year. Cheeky that they have reduced the gross amount now that the tax rules have changed....

B_G_B

mrchrisbrogan wrote: »

Sorry to dredge this up again, but I thought it would be better than starting a new thread.

I just received my notification summary for the year april 15 -april 16 (before the new tax break)

it startes I received 43.75 gross, 8.75 tax was deducted and I got 35.00 in my bank net.

Now that there is a tax break surely they should be paying 6.25, as effectively thats what they were doing last year. Cheeky that they have reduced the gross amount now that the tax rules have changed....

What tax break would that be?

They do still pay £6.25 gross (£5 net). The gross amount has not been reduced.

Ballard

mrchrisbrogan wrote: »

Sorry to dredge this up again, but I thought it would be better than starting a new thread.

I just received my notification summary for the year april 15 -april 16 (before the new tax break)

it startes I received 43.75 gross, 8.75 tax was deducted and I got 35.00 in my bank net.

Now that there is a tax break surely they should be paying 6.25, as effectively thats what they were doing last year. Cheeky that they have reduced the gross amount now that the tax rules have changed....

I suppose that it's good that you searched through the forum for a related thread. It's just a shame that you didn't get to post number two of this thread before posting as that gives the answer that you're looking for.

AlwaysLearnin

mrchrisbrogan wrote: »

I just received my notification summary for the year april 15 -april 16 (before the new tax break)

it startes I received 43.75 gross, 8.75 tax was deducted and I got 35.00 in my bank net.

Our summaries still show £75 gross. Sounds to me like you only got the reward for 7 months...?