Guidance

Income Tax relief for irrecoverable peer to peer loans: final guidance

This note contains final guidance for a new Income Tax relief for irrecoverable peer-to-peer loans to help people understand how to apply this tax relief.

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Details

This guidance sets out the rules on how to apply Income Tax relief for irrecoverable loans that occur on Peer to Peer (P2P) Investments under Chapter 1A of Part 8 Income Tax Act 2007.

This tax relief allows P2P loans that become irrecoverable to be relieved by the lender against interest that they receive from other P2P loans.

Published 31 March 2016