We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Are any cash rewards taxable?
Options
RG2015
Posts: 6,056 Forumite
NatWest, Santander, Halifax, Barclays and until recently TSB, pay (paid) cash as a reward for satisfying various criteria. Furthermore, many banks pay a cash incentive for switching a current account to them.
I have always assumed that these cash payments are either not taxable or paid net of tax. Is there any definitive information that confirms this?
I have always assumed that these cash payments are either not taxable or paid net of tax. Is there any definitive information that confirms this?
0
Comments
-
Generally, they are not taxable, but it may depend on the specific circumstances of the offer.
https://www.whatdotheyknow.com/request/are_bank_switching_bonuses_taxab
1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards