Skip to main content

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

Posted Sat, 02 Mar 2024 00:15:38 GMT by tm chan
Hi there, Lloyds waives user's monthly fee if the user completes certain action the previous month. This is their FAQ about it. How do I waive the £3 monthly fee? To waive the £3 fee, you'll need to pay at least £2,000 into your Club Lloyds account in the calendar month for the following month's fee to be waived. Each month you pay in at least £2,000 you'll not be charged the fee. In reality, at the beginning of each month, Lloyds charges me £3 from the account then immediately (on the same day) puts the £3 back into it. So on my statements they shows a monthly pay in of £3 (and the monthly pay out of £3 too). My question is Does the monthly £3 taxable in this case? Thank you.
Posted Tue, 05 Mar 2024 11:58:06 GMT by HMRC Admin 21
Hi tm chan,
No as they have basically reimbursed the fee that you have paid.
Thank you.

You must be signed in to post in this forum.