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Posted Thu, 28 Apr 2022 10:57:54 GMT by MRJ
Hi, HMRC has provided clarification, stating that Cashback is NOT taxable and should not be entered onto a Self Assessment form. See here: https://community.hmrc.gov.uk/customerforums/sa/6caf4980-84e5-eb11-ba5e-00155d9c7f52 However, what if someone else buys a product using my cashback account, generating extra cashback for myself? For instance, on Topcashback.com you have the option of Creating a link to a retailer which you can then send to friends, family, or display on your own website or forums. Any cashback earned through it will track to your account.
Posted Fri, 29 Apr 2022 08:52:29 GMT by MRJ
Can someone from HMRC please answer this, I urgently need clarification on this matter and no one is picking up the phone at HMRC.
Posted Fri, 29 Apr 2022 13:03:43 GMT by HMRC Admin 10
Hi
Please see here regarding cashback :
Annual payments: meaning of annual payment
Thankyou.
Regards.
Posted Tue, 03 May 2022 09:40:19 GMT by MRJ
Hi there, the kind of payments I described in my original post do not fit the definition of "annual payment". See example 3 of https://www.gov.uk/hmrc-internal-manuals/savings-and-investment-manual/saim8050 . As each payment represents a one-off rebate. Any future cashback received will be dependent on my friends and family making more purchases with my Cashback link, thus no further cashback will be received if there are no transactions made by them. They are therefore not annual. Please can you re-assess my original question? Thanks
Posted Wed, 04 May 2022 09:46:46 GMT by HMRC Admin 20
Hi MRJ,

They would only be taxable if they met the criteria to be defined as an annual payment, if they do not then no tax would be due.

Thank you.

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