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Posted Wed, 08 Nov 2023 17:44:47 GMT by YL Edison
Hello, I have joined some deposit-like saving from a bank outside UK, in which i will earn flight milage instead of interest, after i deposited my money for a year. May i know whether i need to pay any tax for the milage earned, please? I am a tax resident in the financial year. Thanks.
Posted Fri, 10 Nov 2023 10:58:27 GMT by HMRC Admin 5

As this is not an annual payment and the 'reward' is contigent on you making deposits, this is not taxable.

Thank you

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