Wealthify* Free £75+ investment – just put in at least £75 for a year.

artyboy

ThePirates said:

Offer closed...

Well yes... as we were all talking about an offer from a year ago... 

subjecttocontract

Presumably the profit + the free £75 are taxable ?

CrickJon

I am sure I have read on here somewhere that account signing up bonuses are not taxable?

benjimoron_2

Hmmm....

The bit of the right hand side of the dashboard about the offer being pending etc has disappeared, but the extra £75 has not appeared!

boingy

benjimoron_2 said:

Hmmm....

The bit of the right hand side of the dashboard about the offer being pending etc has disappeared, but the extra £75 has not appeared!

Give it 30 days after your anniversary then contact them if the bonus has not shown up.
My anniversary is today and, yes, the pending offer has gone from my dashboard too. It's free money so I'm happy to wait on it for a while. My 1 year profit is 12.16%. I could buy a pizza and a beer with that, but only from a supermarket.

benjimoron_2

boingy said:

benjimoron_2 said:

Hmmm....

The bit of the right hand side of the dashboard about the offer being pending etc has disappeared, but the extra £75 has not appeared!

Give it 30 days after your anniversary then contact them if the bonus has not shown up.
My anniversary is today and, yes, the pending offer has gone from my dashboard too. It's free money so I'm happy to wait on it for a while. My 1 year profit is 12.16%. I could buy a pizza and a beer with that, but only from a supermarket.

Fair point, just thought it was weird they removed the mention of the offer but didn't credit the money. Seems an odd way to do things.

boingy

benjimoron_2 said:

boingy said:

benjimoron_2 said:

Hmmm....

The bit of the right hand side of the dashboard about the offer being pending etc has disappeared, but the extra £75 has not appeared!

Give it 30 days after your anniversary then contact them if the bonus has not shown up.
My anniversary is today and, yes, the pending offer has gone from my dashboard too. It's free money so I'm happy to wait on it for a while. My 1 year profit is 12.16%. I could buy a pizza and a beer with that, but only from a supermarket.

Fair point, just thought it was weird they removed the mention of the offer but didn't credit the money. Seems an odd way to do things.

Yep, I agree that it's odd but I'm giving them the benefit of the doubt for now. I've got a screenshot of the pending offer in my dashboard, just in case. I'll tell you in about a month if I'm happy or grumpy.

subjecttocontract

So we don't know if the free £75 is taxable.
The free £100 from Nationwide is taxable I believe.
Can't see the difference !

My £5.50 profit on my £75 deposit will be added to my taxable income on my SA.

boingy

I think it just depends how they choose to report it, assuming they report it at all. Either way, it's free money.

masonic

subjecttocontract said:

So we don't know if the free £75 is taxable.
The free £100 from Nationwide is taxable I believe.
Can't see the difference !

My £5.50 profit on my £75 deposit will be added to my taxable income on my SA.

The money from Nationwide was a distribution governed by the building society act. This is cashback on the purchase of investments. That's treated as a discount and discounts aren't taxable.

Your "profit" will be made up of capital gain, dividend and possibility interest income, so you'll need to break it down and declare each part in the correct section of your return (and the income will be spread over two tax years). The capital gain part would only need to be declared if you have an overall taxable gain for the year or have made a large amount of disposals.