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Posted Tue, 20 Dec 2022 17:38:30 GMT by rap258
Hi I made a personal loan in February 2022. It has now been repaid early in full. My first repayment of capital and interest was on 01/04/22. The interest element of the repayments is untaxed. Where to I declare the untaxed interest on my self assessment form? I assume it doesn't go in the Interest from Banks and Building Societies section?
Posted Thu, 22 Dec 2022 10:55:50 GMT by HMRC Admin 32

You only declare interest that you received and not interest that you paid.

If you took out a personal loan and paid interest on it, you do not declare the interest paid.

If you are the lender and receive interest from the loan, then this is taxable and ould be entered in the box for untaxed interest.

Thank you.

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