News

HMRC Tax Treatment

Published on January 14, 2016

Last week HMRC updated their Policy Paper on the treatment of interest payments by Peer-to-Peer Lending platforms for tax purposes.

 

For now there is no decision on whether platforms will be required to apply withholding tax to Peer to Peer Loan income and so investors will continue to receive their interest payments gross of tax. Any decision is pending changes to government legislation.

 

For more information please see link below:

 

Policy paper: Revenue and Customs Brief 2 (2016): deduction of Income Tax at source from payments of peer-to-peer interest