Halifax Reward £5.00 a month

Maximum_Saving

Hello. I have a Halifax Reward Account . I began it in December 2014 and got an incentive payment of £100 on 12th December 2014. Since January 2014 I have been getting a £5.00 reward each month. I am a carer and don't pay tax. I think my reward should be £6.25 month. I also think I could claim the £1.25 a month back. What do you think? I am trying to pay off my mortgage and so every penny matters to me.

ceredigion

HRMC form R40

bobobski

Soon to be £3 per month. Query whether it's worth it.

Westie983

Maximum_Saving wrote: »

Hello. I have a Halifax Reward Account . I began it in December 2014 and got an incentive payment of £100 on 12th December 2014. Since January 2014 I have been getting a £5.00 reward each month. I am a carer and don't pay tax. I think my reward should be £6.25 month. I also think I could claim the £1.25 a month back. What do you think? I am trying to pay off my mortgage and so every penny matters to me.

Fill in R40 form and put the interest taken in the any other income and benefits 7.4 and 7.5 and write reward payment in 7.6, I also include the tax certificate sent with the reward account statements each april, not that you need too, but it shows how much has been taken.

I have claimed this for the last few years on all three of my reward accounts, and I will continue to do so when it goes down to £3, which will be £4.25.

Some say they wont bother, but its the cost of an envelope and few bits of ink printing the forms out (although I do it at work and use their ink and stamps)

Westie983

hansi

Is there a set date on which the £5 is paid into the account or does it vary month by month?

ffacoffipawb

Westie983 wrote: »

I have claimed this for the last few years on all three of my reward accounts, and I will continue to do so when it goes down to £3, which will be £4.25.

Westie983

The grossed up figure will be £3.75 not £4.25.

eskbanker

Westie983 wrote: »

Some say they wont bother, but its the cost of an envelope and few bits of ink printing the forms out (although I do it at work and use their ink and stamps)

So that's why they're reducing the reward from £5 to £3!