Incorrect / misleading figures on tax statement.

These days you get cashback from all sorts of things, from credit and debit cards, websites like Quidco to mortgage applications. When I was a lad you got sixpence for taking empty pop bottles back to the shop. Never heard of anyone paying tax on it.

When there's a box on my tax return for filling in my clubcard points that's the time when I'll start paying tax on my cashback.

Until HMRC come out and say for definite whether or not cashback payments are subject to income tax then I'll interpret the rules as I see fit errrr ..... your honour.

Whilst the statement shows interest accrued during the year, only part may have actually been credited to the account during the tax year in question.  So, does the uncredited amount have to be included on the tax return of that year, or the following year (assuming that's when you get it)?

Perhaps the tax statement should say "interest credited" rather "interest earned" to avoid confusion

E.EE is the total, and is certainly not zero. D.DD (Retained Tax) is indeed very small (relating to one or possibly two payments from a single borrower), however, the fact remains that the annual statement shows a non-zero amount of tax being retained.

Indeed, it seems to me that even the existence of this line (and even if D.DD were zero), and the name of the page "Tax Statement", could easily lead to individuals inferring that Assetz Capital are responsible for calculating and deducting tax, just like banks do, so I'm a little surprised that AC's tax advisor(s) approved the "tax statement" in its current form.

Given that there was a recent announcement that a certain amount of interest would be tax-free (about which a large proportion of the population would be unlikely to remember the PRECISE details), the fact that the amount isn't even close to 20% of the gross interest wouldn't necessarily clue them in that something was amiss either... I'd tend to think AC's duty of care extends a bit beyond giving some numbers and expecting people to calculate the correct numbers to report to HMRC for themselves.

However, as before, even those who ARE clued in do not have the (in most cases probably only a few pence worth of) interest that has tax retained properly separated so they can enter the appropriate amounts in each box of the tax return.

I also note on further inspection that the "tax statement" (presumably falsely) claims on hover-over that HMRC have received a payment that is not even a whole number of pence. I'm pretty sure that the fractional pence exist only on AC's own systems.