Elite 11+ shopping and chat thread part 2½

Anon

TM and all

£1 FVF is back on 3bay this weekend according to HUKD.

HTH

Anon

Sunshinemummy

Chrisv wrote: »

Thanks izzey

A v Waities

1x Castello Extra Creamy Brie (200g) £1.95 £1.26 (£1 CoS)
1x Richmond Perfect for Pasta Meatballs (350g) £1.50 N/A (£1.50 CoS)
2x Cadbury Crunchie Chocolate Bar 4 Pack (4x32g) £2.00 £2.00
10x Cadbury Twirl Chocolate Bar 4 Pack (4x34g) £10.00 £10.00

Chrisv wrote: »

Not for me (honest ) They'll keep OH happy for a couple of weeks :rotfl:

I've just come back from A - took mum out to stop my OH throttling her whilst football is on, she comes every night usually when we are eating, and talks, she cannot hear us but she gets cross if we don't talk at length with her hence the fake emergency trip to A to buy strawberries - 30 mile round journey to buy strawberries - OH would have been happy if I had got him chocolate! lol x

Chris .... remember willpower!
:D:D:D

bubbs

Chrisv wrote: »

Not for me (honest ) They'll keep OH happy for a couple of weeks :rotfl:

Don't get tempted and moan about that 1/2lb:p:rotfl::rotfl:

Savvybuyer

curl_girl wrote: »

I've asked about this in branch.
Apparently it's not interest but is a reward, so it's taxable.
This was last year when I asked.

It's no use asking staff in branch. Halifax claims it is a reward, so that is what staff will tell you. I disagree - it's more like interest for an account, even though you don't get paid a percentage of whatever balance you keep in the account. Otherwise, if it was styled as a "reward", it could have got around legislation about tax on interest because it's not interest and therefore would not have had to pay tax on it (when interest was taxed at source).

Last time, when tax was deducted on interest, I understood that the reward was taxable because it was treated by HMRC the same as interest. Now Halifax seem to be saying it's not interest but a reward so is taxable - they can't have it both ways! Either it is taxable or it isn't. If it continues to have (assuming it ever did have according to what I thought it did) the same legal status as interest, then it is not taxable the same way as interest for the vast majority of people. Halifax don't therefore in my view have to pay it over to HMRC. However, as they have done so, I think you can claim it back from HMRC if you don't pay tax on interest. So you are now put to all the rigmarole of filling in detailed forms and claiming it back from HMRC.

If Halifax insist on paying money over to HMRC when, in my view, they don't have to, it now makes me more likely to become annoyed at Halifax's insistence, go to the ASA about the claim on their website and try to make Halifax show that they are required by legislation to give the money to HMRC. I don't think they are.

silvercar

I'm confused that Halifax count the reward as income; I have a NatWest Reward account and the rewards aren't taxed.

Savvybuyer

gocat wrote: »

TSB still playing up for OH account.
Just like to check the accounts. Im sure we not put at a disadvantage financially but still a right pain :mad:

Morning all.
Winters returned here after yesterdays lovely summery day :cool:

If you have a classic plus account, you should be in financial disadvantage today if you save the maximum amount that gets interest and have just been paid interest at the start of the month that now takes it over. I can log on perfectly fine (have always been able to do so but then again I left it several days after the change before I tried doing so) - however the interest on my £1,500 has been credited and I'm currently unable to transfer it straight out like I do every time. Won't let me make any payments out of the account - gives me error messages (different wording I've seen). I am glad I have not transferred the £500 pay-in as I would never be able to get it back out.

The system is overloaded and not fit for purpose. That's isn't any statement of facts, just my own opinion as to what I think is likely to be the case. I think it will be unable to work as intended or will continue to have problems for weeks on end. I think it will take far longer to resolve than people think. I will give them time - as long as I can pay in and withdraw £500 before the end of this month, I'm not too concerned.

TrulyMadly

Anon wrote: »

TM and all

£1 FVF is back on 3bay this weekend according to HUKD.

HTH

Anon

That might come in handy for me:)

davemorton

Ebay £1 final fees is back this weekend.
https://www.hotukdeals.com/deals/ebay-1-final-seller-fee-is-back-this-weekend-upto-100-listings-2934455

Oh, already posted

Savvybuyer

silvercar wrote: »

I'm confused that Halifax count the reward as income; I have a NatWest Reward account and the rewards aren't taxed.

Thank you!
Thanks for showing up Halifax's claim in my view as incorrect. So, either Halifax are required by legislation to pay tax and NatWest is breaking the law (assuming the situations to be identical) or Halifax aren't required by legislation to pay tax are making a misleading claim that they are. Which of these two alternatives is it to be?

To my mind, the fact you've told me the NatWest reward account rewards aren't taxed shows up Halifax's statement as being wrong. I'm not confused at all - I disagree with Halifax and, in my mind, you've just shown my disagreement to be fully and completely valid. The statement allegedly on Halifax's website (I have not checked!) seems to be out-of-date - in my view Halifax are not required to pay tax at all and if they are paying tax they are not obliged to do so. If they are, then why is NatWest failing to comply with this alleged requirement of legislation? In my view, no such requirement exists any more.

If I were making a complaint to the ASA about Halifax, I would now be adding that I also understood that the NatWest rewards account does not tax the rewards, which, in my view, would strengthen such a currently hypothetical complaint.

However:
You can have, within a set of legislation, a range of reasonable views as to what response to the legislation to make. It may be that Halifax are simply taking a different approach to NatWest, but both approaches are justified within the legislation. However, either there is a requirement of the legislation to pay tax over to HMRC or there is not. The fact (if it is one) that NatWest are not paying tax over seems to suggest this isn't a requirement. It may be that Halifax are interpreting the legislation in a way that makes them think there is a requirement; however their interpretation may be wrong and if there is in fact no requirement of legislation, then there is no requirement regardless of what Halifax say to the contrary and regardless of how they are interpreting the legislation. Either they are right about it being a requirement of legislation or they are not: it can't be both!

Anon

Just a thought. If reward or interest is counted as income of some form and taxable, in my view the account fee for Santander and others should be counted as a legitimate expense before profit is calculated for tax. You cannot access the interest without paying the fee, so that would be fairer ... .

In my calculations I look at interest after account fee and tax to work out if it is worth it compared to other accounts.

I still haven't sorted my 2xDD for my accounts ... .

Anon