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Posted Fri, 02 Jun 2023 19:25:41 GMT by Gladys Chan
May I know if I receive the top cash back and some referral bonus ; welcome bonus from banks which the total amount exceeds £1000 in this taxable year, do I need to include those cash back ; bonus to income into self assessment form? Thank you
Posted Wed, 07 Jun 2023 09:58:58 GMT by HMRC Admin 19

The cashbacks are not taxable as you are receiving a discount for meeting certain obligations on the account. You can see information here:

SAIM8020 - Annual payments: meaning of annual payment

The referral bonus is taxable income and should be declared as other income on the tax return.

Thank you.

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