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Posted Tue, 22 Oct 2024 16:59:49 GMT by renee_yr
Hello, For Private Loan to a company arranged bilaterally not on a peer to peer platform, is it still considered as peer to peer lending? If so, the interest income on private loan would be treated and need to be decleared as Other Income on Self Assessment for non resident? I heard from an accountant, if the loan is short term, i.e. repaid within 12 months, the interest income is exempt from personal tax? Is this the case, if so, do you have more details of this? Thank you.
Posted Tue, 29 Oct 2024 13:55:57 GMT by HMRC Admin 18 Response
Hi,

His interest is taxable and needs to be declared on the SA101 BOX 3  if filing by paper or declare as other income if online.

Thank you.

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