Tax return time!

[katykicker]

Why not Jon?

 

[Jon]

Why not Jon?

Just don't - my decision, shall live by the consequences etc.

ShopandScan is slightly different than other survey sites (i think, maybe not, I don't use any other ones!) in that you are rewarded in points. Now I could earn 10,000 points in a year and decide to give all that to charity by selected them. Have I still not earned the same amount of points? Do I still need to declare it? or is it only after I have selected Amazon / Next / Argos vouchers?

I know if you are employed and you get rewards as vouchers from your boss you are meant to declare them (but I would assume payroll would take care of that) - with self employment that obviously doesn't hold true.

 

[Jon]

Even more confusing

Just reading this

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/323563/hs201.pdf

Under
Vouchers and credit cards you do not have to include in
your tax return

it includes

a small gift by a third party (less than £250 in total in the year)

Well I earn less then £250 a year from Shop and Scan and they ARE a 3rd party to me

 

[Blackpepper1]

Even more confusing

Just reading this

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/323563/hs201.pdf

Under
Vouchers and credit cards you do not have to include in
your tax return

it includes

a small gift by a third party (less than £250 in total in the year)

Well I earn less then £250 a year from Shop and Scan and they ARE a 3rd party to me

Interesting.
It is a third party and not something your employer is giving you.so no need to count it and under £250 anyway.
Most people with vouchers from surveys and things would not be earning more than £250 in vouchers. I don't and I actively complete surveys. Again survey companies are a third party they are not employers.

 

[katykicker]

I wonder if ALL third party payments (vouchers) are lumped into that under £250.

I may give them a ring. If not I can probably save declaring around £2000-£3000 because of that...

Why do they have to make things so confusing?!

Also, do you think Consumer pulse counts as cashback on purchases? I know that isn't declarable (Quidco/TCB) other than on business purchases and it got me thinking... Technically you have to buy the items to earn the points so that is a form of cashback

 

[Jon]

I wonder if ALL third party payments (vouchers) are lumped into that under £250.

I may give them a ring. If not I can probably save declaring around £2000-£3000 because of that...

Why do they have to make things so confusing?!

You mean say you have 4 survey companies you work for

Company 1 you earn £100 a year from
Company 2 you earn £200 a year from
Company 3 you earn £180 a year from
Company 4 you earn £20 a year from

You are thinking if that limit is £250 per 'gift/payment' or the TOTAL for all 4 companies has to be under £250?

 

[katykicker]

It isn't a gift though is it. You are getting paid for completing surveys etc.

 

[katykicker]

Btw I only asked why you don't declare incase I'm missing something obvious

Like I was a few weeks ago with writing down Paypal fees/Clixsense 2% fees/Valued Opinions fees as an expense. I HAVE earned the money after all.

 

[Jon]

It isn't a gift though is it. You are getting paid for completing surveys etc.

It is a gift, they aren't paying you

well, you get paid in points and then you 'select your gift'

Thinking about it wonder if survey companies use the word 'gift' instead of 'payment' for that reason lol

 

[Jon]

All I can speak from experience with Shop and Scan and indeed Pinecone

Pinecone and s&s simply pay you POINTS

you are then re-directed to a 3rd party giftshop where you can select the gift you want using the points you have got

 

[katykicker]

My brain hurts today but this is definitely something to look into a little further...! I think I'd have to ring HMRC to at least be able to record them saying whatever they say. Sems to be different advice everytime I ring. I've gone with 'declare everything', but obviously if I don't legally have to I don't want to be wasting £s.

 

[Jon]

interesting topic no matter which way you slice it

but it really has made me think if there is a reason behind being sent to these 3rd party gift websites whenever you try to redeem your points on these companies

 

[Blackpepper1]

interesting topic no matter which way you slice it

but it really has made me think if there is a reason behind being sent to these 3rd party gift websites whenever you try to redeem your points on these companies

Yes it is. Very confusing but really when you do surveys or shop and scan you are not working and getting paid from them. All we get from surveys etc is points which you then redeem as you want from a third party website. Survey companies are not paying anyone and we don't work for them either.

 

[katykicker]

That is definitely treading a fine line. Surveys ARE work. You get a set amount of money for completing the survey. It isn't a gift or a prize draw entry (usually).I've previously been told that if you got say £50 YouGov a year it wouldn't be a problem. If you are joining these companies for commercial purposes (who isn't when they want to earn money online) then you need to declare it.

I don't have the brainpower for it at the moment but if you do surveys everyday, to earn money, that is clearly for commercial purposes Obviously whether you choose to believe otherwise that's your call.

 

[Jon]

That is definitely treading a fine line. Surveys ARE work. You get a set amount of money for completing the survey. It isn't a gift or a prize draw entry (usually).I've previously been told that if you got say £50 YouGov a year it wouldn't be a problem. If you are joining these companies for commercial purposes (who isn't when they want to earn money online) then you need to declare it.

I don't have the brainpower for it at the moment but if you do surveys everyday, to earn money, that is clearly for commercial purposes Obviously whether you choose to believe otherwise that's your call.

ok but again..

Survey company A pays me in Jonpoints - that is my ENTIRE transaction with them. I sign up to do surveys for them, they pay me in JonPoints. JonPoints are an item that can't be transferred for cash and have no 'real world' value and it's monetary value is never mentioned.

I take my 500 Jonpoints and go to the JonTasticGiftShop

Again the monetary value is still not mentioned however I am able to swap 500 of my points for a Argos voucher to the tune of £5

The gift shop has given me £5 voucher for points

I have not earned a voucher from the survey company...

 

[Blackpepper1]

That is definitely treading a fine line. Surveys ARE work. You get a set amount of money for completing the survey. It isn't a gift or a prize draw entry (usually).I've previously been told that if you got say £50 YouGov a year it wouldn't be a problem. If you are joining these companies for commercial purposes (who isn't when they want to earn money online) then you need to declare it.

I don't have the brainpower for it at the moment but if you do surveys everyday, to earn money, that is clearly for commercial purposes Obviously whether you choose to believe otherwise that's your call.

ok but again..

Survey company A pays me in Jonpoints - that is my ENTIRE transaction with them. I sign up to do surveys for them, they pay me in JonPoints. JonPoints are an item that can't be transferred for cash and have no 'real world' value and it's monetary value is never mentioned.

I take my 500 Jonpoints and go to the JonTasticGiftShop

Again the monetary value is still not mentioned however I am able to swap 500 of my points for a Argos voucher to the tune of £5

The gift shop has given me £5 voucher for points

I have not earned a voucher from the survey company...

[member=1]Jon@TheMoneyShed[/member] that is so true!
No vouchers are given from the survey company itself. They only give points which cannot be used for anything. The points we accumulate we can then go to the gift section/reward section to exchange for vouchers through a Third Party Website.
We have an Accountant friend who does ours and it is only the cash amount at the end of the year for Tax purposes.

 

[Jon]

It's like saying 'am I meant to claim for Tesco Clubcard points as they also payed me in those once when I filled in a survey for them'

 

[Blackpepper1]

It's like saying 'am I meant to claim for Tesco Clubcard points as they also payed me in those once when I filled in a survey for them'

[member=1]Jon@TheMoneyShed[/member] Exactly my thoughts on that. You also have the Morrisons Match and More Card I get a £5 shopping voucher when I get 5000 points and if I did a survey for them for a few extra points.
If you start that you would have to declare Sainsburys Nectar points and also Tesco Orchard program where you get Clubcard Points for filling in surveys you would have to declare all that as earnings.
There are tons of places using points as rewards.

 

[katykicker]

The fact is though, the points DO have a monetary value. You're exchanging them for vouchers.

The points you earn for loyalty for shopping is a type of cashback, which doesn't need to be declared.

If you're earning a paltry amount of vouchers then I guess that is a risk to take. I think I had around £5,000 of Amazon alone last year, without other sites.

My husband works in a secure environment and as part of his work contract he couldn't live with someone with money problems or specific criminal convictions. Being caught evading tax, because of something trivial, wouldn't be worth it for me and that's why I declare I'll keep doing that, as it isn't worth the worry for me.

If my husband didn't do his job I'd probably play a bit more fast and loose. Each to their own of course. I wouldnt listen to an accountant that told me it was cash only to declare. That's clearly wrong.

 

[Blackpepper1]

Going to try and double check with my Accountant as we will be visiting him soon. He has a current book on it as to what counts self employment wise and the current rules.
Our Accountant knows what he is doing he does the books for a few self employed people and knows his stuff well.
Just shows really it is better to get cash as much as possible as it gets all complicated when getting Gift Vouchers when self employed.