Hello.
I am looking at using my trading 212 card more, but any interest I earn over £500 in a tax year is taxable for me.
I see there is a “total interest” based on all time earnings, but is there a way just to see the tax year earnings, so if I do earn over £500 I can switch it off?
Thank you.
(Quick question, is the £20 cash back limit per car holder or per account?)
There isn’t such an option, so you’ll have to track it manually. You’ll find a dedicated ‘Interest’ section within the ‘History’ tab, where you can easily view the amounts you’ve earned and export the details as a .csv file.
It’s £20 in total per account.
Thank you for the reply
I’m not sure why you mention the t212 card since I thought the cashback which I assume you are talking about is not treated as interest and does not count towards any interest limit. This is only what I’ve read online and there is not much info on it, maybe someone else knows for sure.
Why would you want to turn it off? It seems a nonsense to me to do that to avoid a tax that would still leave you better off.