Halifax Scrapping £5/Cinema ticket Rewards.

wmb194

BlueonBlue said:

It lasted around 15 years which in banking terms is a long time as moving the goal posts is std banking practice .
The fiver did drop to three quid then two quid for awhile before going back up to five quid .
That got rid of a few .

In the early days it was £6.25 gross paid as £5.00 net of 20% tax.

Barney1954

When did it change?

WillPS

Barney1954 said:

When did it change?

It still is if you take the '£5 for saving £5000' option (which is a poor choice!).

All rewards were paid such that a basic rate tax payer received the headline amount until spring 2020. The new '£5 for spending £500' reward was paid as is on the grounds that it is cashback, and so not taxable.

BlueonBlue

Yea but all we got was a fiver times multiple accounts ,account opening incentives and a fiver on the clarity card if you spent £300 a month.
You could get compo if they messed up too which was often better than jumping thru all the hoops but was never monthly in my case.

Claiming the 20% depended on varibles.....
I dont think that many bothered but some would have as a thread existed on it .