New Reward Option: Gift Cards

[Entitled]

I’ve not had any communication about this but gift cards with a 2% rebate are now available via the app as an additional reward to cash, credit, and Avios.

[Rob]

I’ve not heard anything about that either!

2% doesn’t seem much of an incentive to stop you taking cold hard cash. It DOES allow you to potentially avoid having to declare the cashback you earn for tax though ….

[jimchef.]

Interesting to see this new option. Taking Amazon, John Lewis, etc vouchers would be pretty attractive to me, my averages month is 80k points, but would want to check if they attract any kind of BIK tax liability first.

Does anyone know if they’d be treated different to cash rebate for tax purposes?

[Kowalski]

Just saw this on the CoT site. Looks a very attractive option if it does indeed mean you can avoid the tax on the cashback.

[Rob]

You only avoid the tax in a ‘the Revenue won’t see it and I’m not telling them’ way. You’re still legally obliged to pay it, unlike with miles where the Revenue has agreed they are non-taxable.