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Lloyds ISA cashback
Is the cash back bonus earned from opening a Lloyds Cash ISA taxable? Thank you
Comments
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No, once off cashback for opening an account isn't taxable whilst recurring payments and payments for introductions e.g., refer a friend might be.
https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim100210
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did you already apply? I am looking to do either halifax or lloyds given that the HSBC ISA transfer/cashback process looks like a headache.
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I am assuming the cash back paid by Lloyds is based on the total cumulative sum transferred.
So if you say did three ISA transfers of £9,000 each or one transfer of £27k you would get one £150 payout based on the total sum transferred being over £25k in each case?
So it doesn’t have to be a single transfer over £25k to qualify?!0
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