P2P Bad Debt Relief - eligible platforms

ding
Member of DD Central

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P2P Bad Debt Relief - eligible platforms May 15, 2018 11:43:53 GMT david42, dan1, and 1 more like this

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Post by ding on May 15, 2018 11:43:53 GMT

As I have to do a Self Assessment, I thought I would work out which platforms are eligible for bad debt relief.
One of the requirements is the platform must have "Operating an electronic system in relation to lending" permission.
I listed the platform I use and if they have this permission:

ABLrate FCA 724444 - yes
Archover FCA 723755 - no
Assetz FCA 724996 - yes
BridgeCrowd FCA 675283 - no
Fundingsecure FCA 698305 - yes
GrowthStreet FCA 574048 - yes
HNW FCA 712956 - yes
Huddle FCA 656344 - yes (via Rebs)
Landbay FCA 719626 - yes
Lendy FCA 654326 - yes
Moneything FCA 703549 - yes
ProperyPartner FCA 613499 - no
RateSetter FCA 722768 - yes
Thincats FCA 724062 - yes
Unbolted FCA 741896 - yes
WiseAlpha FCA 751087 - no

archie Posts: 1,866 Likes: 1,861	P2P Bad Debt Relief - eligible platforms May 15, 2018 12:23:41 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by archie on May 15, 2018 12:23:41 GMT Archover should be 'yes' shouldn't it?
	P2P is risky, expect losses. It may take several years to exit a platform.

ilmoro
Member of DD Central

'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd

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P2P Bad Debt Relief - eligible platforms May 15, 2018 13:39:23 GMT via mobile

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Post by ilmoro on May 15, 2018 13:39:23 GMT

May 15, 2018 12:23:41 GMT archie said:

Archover should be 'yes' shouldn't it?

They have right permission but would depend on structure of loans as they have other permissions to (don't use platform) Lendy should be a maybe as they don't have the required permission by the letter of the definition so would need guidance from HMRC

Last Edit: May 15, 2018 13:42:43 GMT by ilmoro

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PLEASE NOTE : All opinions and observations made on this forum are my own view and made in a personal capacity. I have no links to any platform nor am I a financial professional so posts should not be considered financial advice or promotion. I accept no responsibility or liability for the accuracy, content, completeness, legality, or reliability of the information contained in my posts.

P2P Bad Debt Relief - eligible platforms

Post by ding on May 15, 2018 11:43:53 GMT

Post by archie on May 15, 2018 12:23:41 GMT

Post by ilmoro on May 15, 2018 13:39:23 GMT