Post by justuslee on May 8, 2018 16:56:45 GMT
There's been a number of questions raised on the subject of losses incurred on money lent through P2P platforms.
If you have incurred losses whilst lending on a peer to peer platform, tax relief is available, but only if those losses have been incurred on a FCA authorised P2P platform.
The relief is applied to reduce the tax you pay on future income earned via P2P lending, providing that future income is also earned on a FCA authorised P2P platform.
Further detailed information can be found here. www.gov.uk/guidance/peer-to-peer-lending
If in doubt please contact HMRC or your accountant directly.
If you have incurred losses whilst lending on a peer to peer platform, tax relief is available, but only if those losses have been incurred on a FCA authorised P2P platform.
The relief is applied to reduce the tax you pay on future income earned via P2P lending, providing that future income is also earned on a FCA authorised P2P platform.
Further detailed information can be found here. www.gov.uk/guidance/peer-to-peer-lending
If in doubt please contact HMRC or your accountant directly.