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Halifax £5 (£6.25) reward is tax free

124

Comments

  • polymaff
    polymaff Posts: 3,958 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Halifax Reward - the zombie topic that wouldn't die. :rotfl:
  • LXdaddy
    LXdaddy Posts: 697 Forumite
    Part of the Furniture Combo Breaker
    polymaff wrote: »
    Halifax Reward - the zombie topic that wouldn't die. :rotfl:

    ALMOST as difficult as the sign the petition against unfairness etc etc


    This one should be simple - it's not an interest payment so not within the scope of the Personal Savings Allowance. It is income that is paid with basic rate tax deducted at source, if you are a non-tax payer you can claim the tax back, if you are a higher rate tax payer you need to pay the rest of the tax that is due.
  • polymaff
    polymaff Posts: 3,958 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 24 May 2016 at 4:33PM
    LXdaddy wrote: »
    ALMOST as difficult as the sign the petition against unfairness etc etc


    This one should be simple ......

    In a similar vein, it's notable how LITTLE there has been on MSE about the tax treatment of Barclays Blue Rewards. I guess that it means there has been a pretty low take-up?
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    polymaff wrote: »
    In a similar vein, it's notable how LITTLE there has been on MSE about Barclays Blue Rewards. I guess that it means there has been a pretty low take-up?

    It's a defensive account designed to retain existing customers. It's only been available for a few months.

    Halifax Reward is an aggressive account designed to attract new customers. It's been available for several years.
  • Ashen
    Ashen Posts: 594 Forumite
    Part of the Furniture 500 Posts Name Dropper
    PeacefulWaters wrote: »
    As a 40% taxpayer earning more than £500 in interest elsewhere I wouldn't qualify.

    So you're wrong.
    Fair enough, but more important was the bit you didn't highlight or address.
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    Ashen wrote: »
    Fair enough, but more important was the bit you didn't highlight or address.
    With respect, I think I've done that to death.

    I'm not sure it would be appreciated if I did it again!
  • LXdaddy
    LXdaddy Posts: 697 Forumite
    Part of the Furniture Combo Breaker
    polymaff wrote: »
    In a similar vein, it's notable how LITTLE there has been on MSE about the tax treatment of Barclays Blue Rewards. I guess that it means there has been a pretty low take-up?

    ... and the recently introduced Coop Rewards £4 per month plus cashback on contactless transactions.
  • pinkdalek
    pinkdalek Posts: 1,355 Forumite
    Part of the Furniture 1,000 Posts
    polymaff wrote: »
    Halifax Reward - the zombie topic that wouldn't die. :rotfl:

    I know people on here will moan and go on about it that much.

    Be so funny if Halifax withdrew the product
  • SuperAllyB
    SuperAllyB Posts: 885 Forumite
    Part of the Furniture 500 Posts Name Dropper
    It would be £60 a year unfunny!
  • veryintrigued
    veryintrigued Posts: 3,843 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    pinkdalek wrote: »
    I know people on here will moan and go on about it that much.

    Be so funny if Halifax withdrew the product

    I think you've stumbled into the wrong forum.
This discussion has been closed.
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