Cashback Credit Cards

[Steve H]

Havin been offered a cashback credit card by my bank it got me thinking.....Would the "cashback" have to be declared to HMRC as income on a tax return?

[marshalla]

Is it income or just a discount on purchases ?


ETA : I think this gives the answer : http://www.hmrc.gov.uk/manuals/saimmanual/SAIM8020...
http://www.hmrc.gov.uk/manuals/saimmanual/SAIM8050...

Edited by marshalla on Monday 2nd April 21:23

[sumo69]

Not if it's a personal card for your day to day expenditure as its a rebate on spending and not income as such. If a business card, then the rebate would effectively increase profit and the tax due therein.

David

[raptor600]

sumo69 said:

Not if it's a personal card for your day to day expenditure as its a rebate on spending and not income as such.
David

This

Just started using my Amex Platinum Cashback card - 5% for three months then 1.25% there after...can't complain.

If you haven't got one you really are throwing free money away:

Amex Platinum 5% Cashback Card