TopCashBack Breakthrough
I’ve just had some excellent news from TopCashBack and I thought I’d share it with you. I’m sure you already know but TopCashBack lets you earn money back from your everyday shopping. You visit the TopCashBack website and then click through to your retailer where you can earn varying levels of cashback.
This post has been creeping up on me but I wanted to wait until this moment to let you all know.
What Happened?
Today I had a payment from TopCashBack that meant I had now earned over £1,000 from TopCashBack. Can you believe it? Through my every-day shopping I have received £1000 back. This money has gone towards a trip to New York, topped up my Premium Bonds, and is going into a special Amazon tech fund to buy something cool.
How Did I Do It?
Earning from TopCashBack is really simple. I did it the same way everyone earns cashback – clicking through to the retailer’s website. I have had a few larger payouts but I make sure to check the TCB website before I buy anything online. I’ve had 20p from Pizza, £2.50 bonus cashbacks (on top of the ‘normal’ cashback) and £5 back when I replaced the tyres on my car! You can earn Cashback in loads of places so I remember to check the TCB Website before I buy.
But What About The Tax Man?
This comes up occasionally but is it really is nothing for you to worry about. There is some detail on this on the TCB Website
HMRC have been quoted as calling it “nonsense” and saying “There was … no read-across to cashback”, in response to whether loyalty schemes and cashback earnings are taxable (The Telegraph: Will I have to pay tax on credit card cashback). Your earnings are counted as a discount from the retailer and thus, it should not need to be declared as income. However we would always suggest to obtain up to date legal advice for your own safety.
So if you have to do a tax return you don’t need to include the cashback. If you don’t do a tax return then there is no reason to start doing one due to the cashback you receive.
Wow… Very nicely done! I’m on £800 with Quidco as I started there and had decent amounts at times with insurance. I didn’t do as much with TCB as a result but with Quidco regularly turning down cashback now despite fulfilling criteria I’m using TCB more and more, though I’m still at just over £100 on there. Will have to pull my socks up and find more offers – congrats on your money milestone!
Hi Caz,
When I first learnt about Cashback websites I was with Quidco. Do they still charge £5 a year? They used to! I moved to TCB a number of years ago. I think I’ve had only 1 declined transaction from them and that was because the trader declined it (I know this).
Can’t argue with those odds.
🙂
The Reverend
That’s really inspiring. I’m on £44 so far with TopCashback, have got to wait for £21 which is outstanding. Am also on £105 with Quidco, but have to wait for £44 of the cash to be confirmed. The whole thing takes a lot of patience.
Cashback is certainly a ‘long game’ but I’ve found it to be fruitful.
TopCashBack does have a highest Cashback Guarantee so, in theory, you should never get more cashback elsewhere.
I currently have £94 waiting from TopCashBack…but it will come sooner or later.
🙂
Hi,
Just wondering if you can help me with a little problem.
Back in February, Topcashback were promoting a Ladbrokes offer. Basically you opened an account, deposited £10 and bet online. Ladbrokes would then give you £50 cashback. I opened the account, deposited £10 and made a bet. Then I waited, and waited, and waited. My £50 cashback was showing as ‘pending’ for months. Last week it was shown as ‘declined’. I contacted Topcashback and have lodged a claim. They have told me I’m likely to received NOTHING as Ladbrokes will not honour any claim made after 30 days of taking up the initial offer !!!!!
Have you heard of this happening to anyone else? I’m so annoyed……it’s a bloody scam in my eyes.
I received £55 cashback from a similar deal with Coral, no problems.
Thanks for taking time to read this plea for help !!
Regards,
Simon.
Sent from my iPad
Hi Simon,
I’ve had a few items not track but I don’t think I’ve had something declined like this. Leave the lodged claim open – some of my cashback from gambling websites have taken over a year to clear. I recently finally had a payout for a bingo cashback deal….6 months after the initial claim.
The fact it tracked for a long time (even as pending) shows it was on their system. I’d recommend making sure you keep on at them and hopefully they will manage to resolve it for you.
Thanks,
The Reverend