cashback&bonus

kippo1

Hi all
just a couple of questions
does the £100 raisen bonus and the hargreaves cashback count as interest,

and a hypothetical question
if i don't work and have no other income apart from £85000 savings in a flexible isa
could i move £84000 from the flexible isa on 6th april into a higher paying account eg notice or 9 month fix and then move it back to the flexible  isa on the 5th april to preserve my isa allowance

Thanks

masonic

It is not interest. The issue with these payments is usually whether they can be "annual payments". If the payments are one-off incentives, then this is unlikely, and the payment would not be taxable. Cashback is a discount on a purchase, so isn't taxable, but the HL incentive probably doesn't meet the criteria for being cashback, even if that's what they call it.

For your second question, yes you can do this.