Hello all,
I have a question regarding the tax situation of an account with almost zero balance but with large amount of transaction. I have an account which gives me a good cashback so it is suitable for me to do all my purchases with this. I would have about £1000 in and out per week.
The input money comes from cash deposit to account. The output money goes to online shopping from known website like Amazon.
Do I need to declare this account for tax payment since there is no income?
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