Has anyone found a neat way to identify the cash-back payments into your Wise account over the year and print out a nice spreadsheet?
What are cashback payments?
I confess I opted out of the cashbacks because I couldn’t be bothered declaring them in the tax return.
You can get a list of them but it’s a manual transcription process as the format is ghastly. Like Helenochka, I decided it was too much hassle for what, for me, were titchy amounts of money. I actually emptied my accounts and now only use Wise for transfers from bank account to bank account - no money stays there.
I’m assuming that @JaneJones means the monthly interest payments you get on any balances in your accounts. I could have misunderstood though - wouldn’t be the first time!
Thanks @AngelaR - I’ve never even noticed, but then I’ve only got £20 in my sterling a/c and about 20 euros in the other. I’ll have a look next time I’m moving money. Like you, Wise is for transfers only.
They seem to like to send me money, too. It’s like a refund of some of their fees.
Having had a dig around their FAQs it does seem possible
From your Wise account on web:
- Select your profile in the top-right corner
- Select Statements and reports
- Select Balance cashback tax statement
Except that I have no profile in top right corner!
Done it! You have to be on the web, not in the app. Because I left rather a large amount of money in there -which I don’t normally do - I should be able to claim back witholding tax of €84! Worth the price of a stamp.
This is the link with the address for anyone else who has left money in their account!
Reimbursement of the withholding tax on movable property | FPS Finance?