Peer to Peer Lending Interest - PSA
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Gem7321
Registered Posts: 1,438 Beyond epic contributor 🧙♂️
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!
Thank you!
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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.0 -
That's what I was looking for! Thanks @MarieNoelle0
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