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Where Taxpayers and Advisers Meet

***DO U HAVE TO INCLUDE ACCOUNT ADJUSTMENTS OR GOOD WILL GESTURES ON SELF ASSESSMENT?

super1
Posts:10
Joined:Fri Mar 10, 2017 10:57 pm
***DO U HAVE TO INCLUDE ACCOUNT ADJUSTMENTS OR GOOD WILL GESTURES ON SELF ASSESSMENT?

Postby super1 » Tue Oct 29, 2019 11:19 am

***DO U HAVE TO INCLUDE ACCOUNT ADJUSTMENTS OR GOOD WILL GESTURES ON SELF ASSESSMENT?
Hello
My bank paid me onto my account a few times money called account adjustment as a result of being nice to me after complaints, the other time other bank send me a cheque of good will  to stay with them.
Now  can someone explain me, if had the same situation or whats the 100% correct way to do, do I have to include acc adjustment and cheques from good will on my self assessment and pay tax  on them?  if yes, then what position an dhow to included?
it does not make any sense to me as it's a sort of recompensation or intensives, not earned interests, butI have found that apparently you need to include SOME account adjustment

would be grateful if someone explains me that if had similar experience   thanks

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: ***DO U HAVE TO INCLUDE ACCOUNT ADJUSTMENTS OR GOOD WILL GESTURES ON SELF ASSESSMENT?

Postby robbob » Wed Oct 30, 2019 9:31 am

If the items are in no way trade related i would say you have no reporting obligations.

Note if its a bank account you use for sole trader transactions and claim bank charges on that account i would say the income would be trade related and i would reduce bank charges by the amount of income received or treat as other operating income.


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