Originally posted by radish2008
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Bank account transfer incentive - Taxable ?
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Originally posted by radish2008 View PostI'm not saying anything at all hence the question, there's no challenge here just a discussion. I'd assumed it would be treated as income until I got a few opinions saying otherwise. With credit interest it's paid on a service you have already bought whereas this could be described as a discount on something you are yet to buy. Like a discount of £100 on a laptop I that should have cost £1k. I wouldn't count that as a profit of £100 and pay CT on it.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by radish2008 View PostLike a discount of £100 on a laptop I that should have cost £1k. I wouldn't count that as a profit of £100 and pay CT on it.Comment
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Both good points. Accountant said it is logged as Other Income > Grant Income in FA if anyone else stumbles across this in the future.Comment
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Originally posted by radish2008 View PostBoth good points. Accountant said it is logged as Other Income > Grant Income in FA if anyone else stumbles across this in the future.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by radish2008 View PostBoth good points. Accountant said it is logged as Other Income > Grant Income in FA if anyone else stumbles across this in the future.
I mean it's not grant income, but your accountant has simply identified it a useful place to put it.
My accountant might say put as interest received with a note.
It's treated the same and taxed as profit.See You Next TuesdayComment
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Originally posted by Lance View PostSurely that's dependant on the accountant?
I mean it's not grant income, but your accountant has simply identified it a useful place to put it.
My accountant might say put as interest received with a note.
It's treated the same and taxed as profit.
Interest Income is also very valid but there is a chance the transaction note may be missed.Comment
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Originally posted by radish2008 View PostBoth good points. Accountant said it is logged as Other Income > Grant Income in FA if anyone else stumbles across this in the future.Comment
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Originally posted by adubya View PostOK, so your accountant has deemed it taxable then. Seems correct, although an odd category for it.merely at clientco for the entertainmentComment
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Originally posted by eek View PostWhy wouldn't it be taxable?Comment
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