Halifax Monthly £6.25 ers

[DC.]

So, with the new Savings Tax allowance in april, will our £5 monthly incentives be paid tax free?

[planteria]

the consensus seems to be that they won't, and that £5/month will continue to be received.
still a nice little deal

[cashback]

Received my annual tax statement for one of my Rewards accounts today and couldn't help noticing that the rewards had tax deducted.

This is interesting because it may mean that in a few days time we'll be receiving £6.25'ers after all.

Quite an exciting prospect!

[planteria]

"exciting" haha.. i don't think our £5s are going up, but it'd be nice

[cashback]

'Excitement' over. It's free fivers for the foreseeable!

[joker]

Still net though, so no loss of money at least.

[planteria]

it was always net, so no surprise in any respect. i've been bagging a sneaky little £20/m for a good while now though

[cashback]

Yes it is a great little earner, I'm very happy with the deal as it is. Long may it continue

[DC.]

Just got thinking about this again.

Before April I paid tax (still do) so got £5.
GF doesn't pay tax so got £5, she was able to claim £1.50

Now that we both don't pay tax (she doesn't, I don't use my full £1000 allowance) can we both claim £1.50.

For some reason I was under the impression that neither would be able to claim.

Am I missing something?

[StringyBob]

HI DC,

This MSE article explains it all.

http://www.moneysavingexpert.com/news/banking/2016/07/halifax-barclays-or-co-op-bank-customer-you-may-need-to-pay-tax-on-your-rewards?utm_source=MSE_Newsletter&utm_medium=email&utm_term=05-Jul-16-v3&utm_campaign=nt-oneliners-one&utm_content=11