Prev < Contents > Next
Taxes
Before we get started with how to go from £0 to £1,000+ online, it is important to understand whether you will owe any taxes on this income. This is not tax advice and is for informational purposes only, however here are the following rules in the UK:
Any cashback earned = not taxable
Any profits from matched betting = not taxable
Any income from other offers (incl. bank switching) = taxable*
*If you are not a sole trader in the UK and do not run a business, you may be eligible to take advantage of the trade allowance which means you do not pay taxes on any trading income of £1,000 or less.
Therefore, if you do not run a business that already earns £1,000 or more, so long as the offers you complete here (excluding cashback and matched betting) are below £1,000 worth of income, then you will not owe tax on this income either.
Please note that if you earn £900 from a small business and you complete £200 of offers, this will result in you breaching the trade allowance and will result in you becoming liable to pay tax.
Any questions on this, please contact a tax advisor.