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Is Nationwide fairer share bonus classed as tax free interest?
pookey
Posts: 293 Forumite
Should I count is as part of my personal savings allowance?
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pookey said:Should I count is as part of my personal savings allowance?From the Nationwide website:How is the payment treated for tax purposes?
The payment is taxable savings income. This means that it is treated in the same way as any interest you may earn on your savings account or current account. We are not required to deduct any tax from the payment, but we will report it to HM Revenue & Customs (HMRC).
https://www.nationwide.co.uk/about-us/fairer-share/terms-and-conditions/
'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.1
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