Peer to Peer Lending Interest - PSA

Gem7321

Can someone reassure me please, is interest earned from peer to peer lending qualifying interest for the personal savings allowance? And if the interest earned is below the personal savings allowance, does it need to be reported under self assessment?

Thank you!

MarieNoelle

Hi @Gem7321

Yes peer to peer lending qualifies see here https://gov.uk/apply-tax-free-interest-on-savings

I think that if the tax payer is already in SA all income must be declared.
If not and there is no tax liability then there is no requirement to file a return.

Gem7321

That's what I was looking for! Thanks @MarieNoelle