I am not self-employed or running business. I intend to buy a new build home to live in (not investment), I will pay the market sales price in full by cash but there is a cash-back in a sum of £26,400 from the Developer as an allowance to me upon completion. Is this cash-back money regarded as taxable income? If yes, which part of the SA100 should be filled in? Please advise, thank you very much.
On the form SA1, there is a question as below:
‘Have you been getting taxable foreign dividends in excess of £300 a year or any amount of other taxable income?’
It would be much appreciated if you could explain to me the following questions so as to help me answer it correctly:
1. Does the term “foreign dividends” include interests from the banks outside UK?
2. Does the term “any amount of other taxable income” mean those earnings from foreign country (excluding the “foreign dividends”) whatever how much it is?
Thank you very much.