j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jan 3, 2016 16:44:59 GMT
Is there any other tax alowance on pure p2p income than income tax (£10600 allowance for this year)? I'm sure CGT is not applicable & you can offset banckruptcy losses on future p2p income (eg plumber loan on AC whenever/if that officialy becomes a reality). Have obviously ignored eis allowances for the likes of recent AC seeders campaign.
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pikestaff
Member of DD Central
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Post by pikestaff on Jan 3, 2016 17:33:25 GMT
p2p income counts as savings income, so it is also eligible for the 0% starting rate on the first £5000 of savings income (2015/16). This benefit is lost to the extent that your non-savings income exceeds the personal allowance, so will be of interest mainly to those who are not in work. Easier to understand with an example taxaid.org.uk/wp-content/uploads/2010/10/savings-illustration-2015-16.pdf |
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on Jan 3, 2016 20:55:19 GMT
p2p income counts as savings income, so it is also eligible for the 0% starting rate on the first £5000 of savings income (2015/16). This benefit is lost to the extent that your non-savings income exceeds the personal allowance, so will be of interest mainly to those who are not in work. Easier to understand with an example taxaid.org.uk/wp-content/uploads/2010/10/savings-illustration-2015-16.pdfThanks pikestaff, very useful
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