cash back credit cards / tax implications
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cash back credit cards / tax implications
Im looking at chopping up my Visa and Mastercard Barclaycard Platinum's to get something with cash back rewards.
With exspenses i normally clear 25-30k a year on them and after a couple of years of points i can just a about get a free flight to the us or a telly. Not bad but not that good in my opinion.
Looking at the different cash back cards i could get Circa £200 a year, i always pay the card off each month so im not fussed about the APR.
Would the £200 be taxable ??. Cant find any info on the credit card websites regarding tax on cash rewards, because if it is taxable it is not worth me changing i dont think. ANybody with a cash back card and does self assesments ??.
With exspenses i normally clear 25-30k a year on them and after a couple of years of points i can just a about get a free flight to the us or a telly. Not bad but not that good in my opinion.
Looking at the different cash back cards i could get Circa £200 a year, i always pay the card off each month so im not fussed about the APR.
Would the £200 be taxable ??. Cant find any info on the credit card websites regarding tax on cash rewards, because if it is taxable it is not worth me changing i dont think. ANybody with a cash back card and does self assesments ??.
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