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Posted Wed, 21 Dec 2022 10:30:34 GMT by Gary Coombs
Can you please confirm where untaxed interest received on an amount loaned within the family at interest should be entered on the return? Would it be in "Other UK income not included on supplementary pages" in boxes 17 and 21, or somewhere else? Thanks
Posted Thu, 22 Dec 2022 12:29:22 GMT by HMRC Admin 32

The savings and investments manual SAIM2010 advises that there is a charge to tax on interest received on loans made privately.  

SAIM2010 - Interest 

You can enter this in the untaxed UK interest box 2 on SA100.  

Additional information notes

Thank you.
Posted Thu, 22 Dec 2022 13:39:15 GMT by Gary Coombs
Thanks. I fully accept that interest received privately is taxable and am happy to include it alongside bank etc interest in Box 2, though the title to that section suggests it applies only to banks etc. I am unsure what relevance the link to the Additional Information notes relates to as none of the circumstances there appear relevant?
Posted Fri, 23 Dec 2022 11:52:09 GMT by HMRC Admin 30

This would be more linked to peer to peer lending and declared on the additional information page SA101 -

Peer to peer lending

Thank you.
Posted Fri, 23 Dec 2022 13:44:08 GMT by Gary Coombs
Thanks. I must be being very slow but I cannot see where one would enter interest received on the SA101. Which box should be used please?
Posted Wed, 28 Dec 2022 15:56:39 GMT by
Hi Gary Coombs,

This should be entered on form SA101 Additional Information under, "Other UK income, Interest from gilt-edged and other UK securities, deeply discounted securities and accrued income profits"

Thank you. 

Posted Wed, 28 Dec 2022 16:24:06 GMT by Gary Coombs
Thank you. Somewhat counterintuitive but as long as you guys are content, I too am content.

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