If you’ve built up a significant amount of credit in your Bulb account thanks to some amazing referral success, we’d love for you be able to spend it on whatever you want. To have that credit transferred to your bank account, give us a call on 0300 30 30 635 or email email@example.com.
In general, once credit earned from your referrals becomes money in your account, it becomes a form of income and may be subject to tax. Depending on how much you’ve earned it may need to be declared to HM Revenue & Customs (HMRC).
Tax is a really complex subject, and you should take time to understand the rules as they apply to you and your particular situation.
We need to be clear: this information is not legal or tax advice. It’s only guidance to act as a starting point. The links we have provided haven’t been independently verified, so even when a website is provided by a government agency, you should confirm its accuracy.
The tax year is from April 6th to April 5th the following year. As a rough guide, if you have earned more than £2,500 worth of credit within that period, and have had it transferred from your Bulb account into your bank account, it could be taxable. This will mean you’ll need to send a tax return to HMRC. You can read more about this on their website here. If you would like to check whether you will need to complete a tax return or have any more questions about tax you can contact HMRC here. Help completing your tax return can be found here.