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Quidco and taxable income

£0.00 @ Quidco
Cashback is being used as a euphemism for commission which counts as taxable income. Cashback sites are becoming more and more popular and some of us have made a tidy sum from them. I wonder how ma… Read More
crazyhorse Avatar
1d, 2m agoPosted 1 decade, 2 months ago
Cashback is being used as a euphemism for commission which counts as taxable income. Cashback sites are becoming more and more popular and some of us have made a tidy sum from them.

I wonder how many of us are declaring this extra income on our SA?
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crazyhorse Avatar
1d, 2m agoPosted 1 decade, 2 months ago
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#1
[SIZE=2]Erm, tell me how to 'earn' money from a cashback site and then the taxman might get to know about it.[/SIZE]

[SIZE=2]Short of buying goods through a cashback site and then selling the goods on for the original price (which is actually trading) then money from a cashback site is not taxable as it is not profit (or earnings) - you had to spend a lot more than the cashback in order to receive it. It's more of a discount, and I'm certainly not telling the taxman about every bogof I get from Tesco![/SIZE]

[SIZE=2]You get commission when you sell something. You get cashback when you buy something. ;-)[/SIZE]
[SIZE=2][/SIZE]
[SIZE=2]Edit: ... or do you mean you run your own cashback site, in which case you should be declaring any earnings from it?[/SIZE]
#2
How naïve can you be. :giggle:

'Quidco is the web's cashback cooperative. Quidco collects referral commissions from online merchants and passes them all on to our members. The Quidco cooperative is a cashback revolution where members keep their full earnings in exchange for giving Quidco £5 out of their earnings once a year.'
#3
Quidco is acting as an agent passing on commission every time we buy an item via a link on their website. It's not a discount.

A true discount is from the retailer direct to you, not through a third party. Your Tesco BOGOF items as you put it have been bought directly from the retailer.
[mod]#4
No ones stopping you from declaring it. Feel free to do so.

But it works exactly the same as the supermarkets loyalty schemes which are all run by other companies who on their behalf issue you with 'commision' points and you'll find that at the moment this is not a taxable income.
#5
Loyalty point schemes are completely different to receiving cash. If someone pays you cash and no tax has been paid then that's taxable income.

And what about the sign-ups to websites or searches that people have received cash remuneration for?
[mod]#6
crazyhorse
Loyalty point schemes are completely different to receiving cash. If someone pays you cash and no tax has been paid then that's taxable income.


It's exactly the same as what the co-op do.
1 Like #7
valueflora
#8
Muwolves
valueflora


:giggle: Was waiting for someone to say that...
#9
:roll: pointless thread deserves a pointless comment:roll:
#10
Muwolves
pointless thread


I agree, HUKD gets enough 'spam' without adding to it :-( :roll: :roll: :roll: :roll:
#11
That's a no then.
#12
dinosteveus
I agree, HUKD gets enough 'spam' without adding to it :-( :roll: :roll: :roll: :roll:


Jesus Dino, can you be anymore sycophantic.
#13
crazyhorse
Jesus Dino, can you be anymore sycophantic.

Your last post on here was at 1844 hrs, and that was after my post, did it take over 3 hours to think of that insult :giggle: :giggle:
#14
Oh yes, absolutely. :thumbsup: HUKD Mafia strikes again.
#15
crazyhorse
Oh yes, absolutely.

OK, well done. Did you have any help?:roll: :giggle: :giggle: :giggle: :giggle:
#16
At least quote me in full.
#17
Dino Vito Corleone
#18
No, I think Don Dino Corleone suits you better.
#19
crazyhorse
Dino Vito Corleone

Yes, I'd like to order one large horse's head...yes, yes, home delivery please...
http://larsholst.info/img/ex/film/godfather-01-c.jpg
#20
crazyhorse, if you get some pleasure from insulting me that's fine. At least while you are trying to insult me you are leaving somebody else alone who may give a damn what you think and could be offended by your posts. :whistling: :whistling:
#21
dinosteveus
crazyhorse, if you get some pleasure from insulting me that's fine. At least while you are trying to insult me you are leaving somebody else alone who may give a damn what you think and could be offended by your posts. :whistling: :whistling:


Please, you're making my skin crawl.
#22
Hey Dobbin, Do you work for the Inland Revenue?
#23
CHARLIETHIRTYTWO
Yes, I'd like to order one large horse's head...yes, yes, home delivery please...
http://larsholst.info/img/ex/film/godfather-01-c.jpg


I'm a leg man myself!

http://content3.bigoo.ws/content/clip/funny/funny_44.gif
#24
Home delivery too please!
#25
I'm a leg man myself!


Retro....please be aware that due to new forum restrictions this statment is now considered sexist & offensive, as is your ridiculing of this poor limb challenged horse!
banned#26
CHARLIETHIRTYTWO
Retro....please be aware that due to new forum restrictions this statment is now considered sexist & offensive, as is your ridiculing of this poor limb challenged horse!



:giggle: nice
#27
CHARLIETHIRTYTWO
Retro....please be aware that due to new forum restrictions this statment is now considered sexist & offensive, as is your ridiculing of this poor limb challenged horse!


Charlie....I've been misunderstood! Think KFC, Think KFC, Think KFC, Think KFC, Think KFC, Think KFC, Think KFC. (That's the sexist bit sorted.) I thought I was placing an order. Obviously the wrong web site.

Sorry to Dobbin, Rosebud, crazyhorse & any members who I've offended! Think SOH, Think SOH, Think SOH, Think SOH, Think SOH, Think SOH, Think SOH.

If that doesn't work think Retro's SOH, Retro's SOH, Retro's SOH, Retro's SOH, Retro's SOH, Retro's SOH, Retro's SOH,

Hay crazyhorse (sorry) Hey crazyhorse, I don't really want your lower limbs removed and delivered to my home. Just kidding! (Damn, sorry to all the offended Goats in the world) My freezer isn't big enough.
#28
To put this matter to rest. here is the official inland revenue position on cashback schemes:

http://www.hmrc.gov.uk/manuals/CG1manual/cg13027.htm

In short, unless you are getting the cashback from Quidco by virtue of your employment or business, it is not taxable. The only circumstance in which I can see that it would be taxable is if you were buying goods and services for your employer and keeping the cashback earned through Quidco. Even there, it begs the question as to how the inland revenue would identify if this was the case.
#29
Lowtrawler
To put this matter to rest. here is the official inland revenue position on cashback schemes:

http://www.hmrc.gov.uk/manuals/CG1manual/cg13027.htm

In short, unless you are getting the cashback from Quidco by virtue of your employment or business, it is not taxable. The only circumstance in which I can see that it would be taxable is if you were buying goods and services for your employer and keeping the cashback earned through Quidco. Even there, it begs the question as to how the inland revenue would identify if this was the case.


Thank you Lowtrawler that was one of the more useful replies...;-)
banned#30
You'd have to be mad to declare any income like this to this government.

They take more than their fair share as it is!
#31
as a compsite company i pay myself a directors fee as a wage and split my company profits between me and my partner, and pay them as dividends using up both our lower rate tax amounts, so i screw the tax man enough on technicalities, if I can get away with that, Im sure 300 quid from quidco wont make to big a deal :lol:

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