Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Mon, 06 May 2024 08:34:13 GMT by Lisa
Dear HMRC, The bank issued rebate for payment in my bank account as part of their promotion, e.g. rewards from refer friends/swift from banks, which part I should report of this rebate in SA100 please? Thanks.
Posted Tue, 14 May 2024 07:23:09 GMT by HMRC Admin 8
Hi,
The answer is No.
Thank you.
Posted Tue, 14 May 2024 09:37:19 GMT by Lisa
HMRC Admin 8 : thanks for your answer. Does it means I do not need to report to HMRC for this case? thanks.
Posted Wed, 22 May 2024 09:18:35 GMT by HMRC Admin 8
Hi,
Yes that is correct. 
Thank you.
Posted Wed, 29 May 2024 14:09:33 GMT by YF
Hello, I received a rebate from an overseas bank for depositing a certain amount of new funds and maintaining the total balance of the deposit account for a specified period. Is this rebate taxable and counted as my income? Thank you.
Posted Mon, 03 Jun 2024 11:42:41 GMT by HMRC Admin 19
Hi,

It depends if it was a reward rather than a refund. You can see guidance here:

SAIM8020 - Annual payments: meaning of annual payment

Thank you.

You must be signed in to post in this forum.