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Business bank account switching incentive taxable?

Is an incentive paid to a company for switching business bank accounts subject to CT ?

There is much said about the tax position of cashbacks and incentives for individuals but little mentioned about businesses.

So where a bank offers a company a cash incentive to switch banks is this subject to Corporation Tax ?

Many thanks.

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04th Mar 2019 12:12

I vote yes.

I can't think of an exemption - can you ?

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04th Mar 2019 12:25

It is strange that there isn't guidance.

As for individuals, the position depends on whether the company is receiving the incentive payment in a personal or business capacity.

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04th Mar 2019 13:29

I looked at this for a client 18 months ago and it was taxable on companies but I can't remember where I found it!

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04th Mar 2019 15:03

So, apparently my sarcasm setting is a little on the low side.

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to Vile Nortin Naipaan
04th Mar 2019 15:14

Jack it up a notch.

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