Cheuk Hang Sin
Joined: 10/6/2023
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RE: Are bank welcome rewards taxable?
Dear HMRC Admin, Thank you for your response. From my understanding, the one-off 'refund - welcome reward payment' was not an annual payment, because it was not a recurring payment and not extended for more than a year. Since the 'refund - welcome reward' does not possess all four characteristics at the same time, should it be not classified as an annual payment? Thank you. -
Self Assessment Tax Return
I received an untaxed income of GBP 500, an interest income of GBP 750, and PAYE of GBP 5000. Do I have to complete the self-assessment and/or file a tax return? Thank you. -
Are bank welcome rewards taxable?
I received a 'REFUND - WELCOME REWARD' of GBP 500 into my UK bank account. Would this GBP 500 be counted as taxable income? Thank you.