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Barclays Business Loyalty Reward, VATable?

I have received a 33p loyalty reward from Barclays, is this VATable?

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Hi there, I have received  33p loyalty reward from Barclays into my business account. I would think that this is VAT exempt, has anyone any other suggestions?

On their leaflet, they conveniently say 'We are not accounting or tax advisers and we do not provide accounting or tax advice'.

Thanks!

Replies (13)

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By SouthCoastAcc
09th Aug 2019 12:09

33p!

No one will care

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Replying to SouthCoastAcc:
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By Josh92
09th Aug 2019 12:11

SouthCoastAcc wrote:

33p!

No one will care

I know, I know. I've started a new business, so just want to make sure I'm getting things right from the outset.

I appreciate it is a very small amount and any comments that can help me!

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Replying to Josh92:
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By Tax Dragon
09th Aug 2019 12:19

What service did you sell?

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Replying to Tax Dragon:
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By Josh92
09th Aug 2019 12:22

Tax Dragon wrote:

What service did you sell?

Nothing, I simply got it because I am paying Barclays for their business account.

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By SXGuy
09th Aug 2019 12:31

Why would it have vat? Your asking the wrong question. The question should be. Is it TAXABLE

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By jcace
09th Aug 2019 12:41

It's a repayment of a proportion of the charges applied to your account and is therefore exempt, in the same way as the charges.

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Replying to jcace:
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By Josh92
09th Aug 2019 12:54

Thank you, very much appreciated!

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By jon_griffey
09th Aug 2019 12:45

I wish Barclays would stop this and simply knock it off the charges. So much time must be wasted accounting for these silly little amounts.

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Replying to jon_griffey:
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By Josh92
09th Aug 2019 12:55

jon_griffey wrote:

I wish Barclays would stop this and simply knock it off the charges. So much time must be wasted accounting for these silly little amounts.

Yes, very annoying! I've set up the rule now, so shouldn't be too much bother going forward! Thanks!

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By The Innkeeper
10th Aug 2019 23:51

If you carry on asking questions like this you are most likely to be at the receiving end of a tirade of abuse and or sarcasm

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Replying to The Innkeeper:
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By Tax Dragon
11th Aug 2019 10:17

What you mean us that, in this forum, if the number you cite is small, you get mocked; put a large number and you're told you can afford to pay for advice; put no number and you're told information is missing.

I thought this time the answers had managed to avoid doing that, by and large.

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Replying to Tax Dragon:
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By Josh92
12th Aug 2019 09:33

Tax Dragon wrote:

What you mean us that, in this forum, if the number you cite is small, you get mocked; put a large number and you're told you can afford to pay for advice; put no number and you're told information is missing.

I thought this time the answers had managed to avoid doing that, by and large.

Exactly! As a young accountant, the information on here is invaluable. As it's for my own business now (rather than audits I was doing before), I need a little more support and want everything to be correct. I really appreciate your help!

Maybe I will pick bigger (but not too big) numbers next time haha!

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By The Innkeeper
10th Aug 2019 23:54

If you carry on asking questions like this you are most likely to be at the receiving end of a tirade of abuse and or sarcasm

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