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Posted Thu, 28 Jul 2022 00:42:41 GMT by Man
Hi, I am going to lend money to a friend by sending money into his bank account. On the other hand, he will return the money to me by sending it into my bank account. There will be no interest. For this, is it any tax involved? Am I need to declare that in the self-assessment? Thx.
Posted Fri, 29 Jul 2022 11:20:31 GMT by HMRC Admin 25
Hi Man,

No. It is seen as lending. 
Only interest generated would be liable for Tax. 
Thank you 

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