Ian Holloway looks at the tax position of payments to certain investors.
Eligible members of Nationwide Building Society saw ‘Big Nationwide Thank You’ payments of £50 paid into their accounts. What is the tax position of such payments?
The £50 payment is made in addition to the £100 ‘Fairer Share’ paid earlier (to eligible members). So, as taxpayers deal with their tax returns, there are two payments to consider:
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The £100 payment in tax year 2024/25.
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The £50 payment in tax year 2025/26 (NB another may be payable later on).
Dividend?
Nationwide members are not shareholders, so the payment cannot be regarded as a dividend, something Nationwide
