Cashback

Hi Do I have to include cashback as other income for tax credits please? I have received cashback from Topcashback, Quidco and my bank. I also received £200 from a bank switching offer. Thanks

Hi geckomandoza,

No you do not need to declare this unless your savings exceed the limit.
Other income includes: • income from savings and investments, including gross amount of dividends, for example, if you own shares in a company • State Pensions and other UK pensions • property income • trust income • foreign income • notional income.
For more help on working out your income, go to Working out your income for tax credit claims and renewals
Enter the total amount of your other income that exceeds £300 (if you’re claiming as a couple the £300 limit applies to your joint other income) plus any miscellaneous income received, and for students, any Adult Dependant’s Grant.

Thank you.

Hi Thanks for your reply. Can you please clarify whether I am correct? So I would class the bank switching reward and the cashback amounts as other income and declare the amount over £300? Many thanks