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Are Chase 1% cashback and 5% round up rewards taxable
ashteadgirl
Posts: 300 Forumite
Sorry if this has been covered elsewhere but been unable to find it.
Obviously the Chase savings account interest is taxable but I think the 1% cashback is NOT taxable and have no idea whether the round up rewards are or are not taxable. Does anyone know for sure about the cashback and reward interest????
As you may guess it is tax form time : (
Obviously the Chase savings account interest is taxable but I think the 1% cashback is NOT taxable and have no idea whether the round up rewards are or are not taxable. Does anyone know for sure about the cashback and reward interest????
As you may guess it is tax form time : (
0
Comments
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Cashback isn't interest so therefore not.
Rewards is a savings account that pays interest so therefore yes.3 -
whether less than £1 of interest on the roundup will be taxed much is another matter0
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I'm up to £5.29 interest at the moment and by the end of the tax year it will probably be about £8 or £9.AndyTh_2 said:whether less than £1 of interest on the roundup will be taxed much is another matter
Even though it's only a very small amount, it will still be taxable as I'm above the £1000 tax free interest allowance.0
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