This is going to sound silly but are Bulb's referral credits tax-free??? — Bulb Community

This is going to sound silly but are Bulb's referral credits tax-free???

edited March 12 in About Bulb
I'm assuming Bulb's referral credits do not have to be declared to the tax man.
People's responses are welcome!

Comments

  • ky326vvb said:

    I'm assuming Bulb's referral credits do not have to be declared to the tax man.
    People's responses are welcome!

    Have you checked Bulb's Terms & Conditions regarding referrals?
  • Just read the Bulb T & C's for referrals. It says, quote, users are responsible for ANY tax implications from receiving a reward. So, that suggests it's income to be declared to the tax man. Two points. The condition is badly worded, any implications?? My response to that is what ARE the tax implications????? Secondly and more importantly it's probably all hypothetical as I bet NO Bulb customers declare this kind of income anyway and couldn't be caught by the tax man either!!!!!!!!
  • edited March 12
    ky326vvb said:

    The condition is badly worded, any implications??

    I don't see as it's badly worded. It is very clear that you are responsible for any tax implications. It's not Bulb's job to explain to you what those tax implications might be without knowing your personal circumstances, and therefore there is no missing or badly worded information. If you don't know what tax implications apply to you then you need to ask your accountant.

    But, essentially, I think you've already answered your own question. It's income. Whether or not you declare it is your decision.
  • There's a trading allowance of £1,000 which can be used to cover miscellaneous income. i.e. for income below this level, nothing need be declared.

    If you're actively referring above that level and doing so on an ongoing basis, then HMRC might argue that you're operating a business.
  • Thanks for the responses
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