ashtondav
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Post by ashtondav on Dec 5, 2018 19:03:14 GMT
What do I enter on the tax return, just the total interest or do I add/subtract anything on defaults?
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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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Post by ilmoro on Dec 5, 2018 20:26:47 GMT
FS tax statement should tell you what you can enter. Should have a gross interest figure, a treatable as loss figure/recovery & a net figure. It will depend on your tax circumstances what you enter as you do not have to claim treatable losses, can claim all or some providing you feel able to justify/qualify what you enter. Remember you enter total interest on all P2P platforms minus net losses (ie losses you are claiming minus any recoveries you claimed losses for previously) and it goes under other income (OEIC, gilts etc) Of your losses on one platform are greater than interest earned you can offset the balance against interest earned on other platforms & if total losses are greater than total P2P interest can carry the remainder forward to next year.
Not advice etc. Read notes on HMRC relating to claiming losses & form SA101
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