Gift Certificates

[suedeapple]

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I get paid from Amazon by gift certificate.

Do I declare this in my Self Assesment form as a taxable income?

If I then use the gift certificate to buy some office materials e.g. print cartridge.

Can I then delare the print cartridge as a cost?

[hrbs]

I get paid from Amazon by gift certificate.

Do I declare this in my Self Assesment form as a taxable income?

If I then use the gift certificate to buy some office materials e.g. print cartridge.

Can I then delare the print cartridge as a cost?

Hi

Yes, you do as the gift certificate is just another form of "currency".
For a guide on other tax deductible costs see hrbs.biz/id?10102 .

Regards

Keith
HRBS.biz

[csn]

Keith,

Playing devil's advocate, are incentives taxable?

Say you win a holiday in a draw or as a result of making the most sales in a given period. Should this be declared, even though a value wouldn't be known?

I assume a cash incentive would get paid through a network so that would be declared. If this was in the form of a cheque, should that be declared?

If the prize was Amazon vouchers, again should that be declared? From your answer above, it would seem so but I don't know if there is a distinction between 'payments' and 'prizes'.

I've read that the incentives we see on the forums are all non-taxable unless they are paid through the usual network's invoice process. Not sure if this is true.

Would like to know just in case I make it big one day

PS) Lottery winnings are tax free - right?! :blush

[suedeapple]

You don't declare lottery winnings - or any form of gambling earnings.

This is explicitly noted in the self assesment form instructions booklet
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[csn]

You don't declare lottery winnings - or any form of gambling earnings.

I'll keep on playing and live in hope ....