Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • vertex
    • By vertex 2nd Oct 17, 1:33 PM
    • 71Posts
    • 6Thanks
    vertex
    P2P claiming losses to reduce tax
    • #1
    • 2nd Oct 17, 1:33 PM
    P2P claiming losses to reduce tax 2nd Oct 17 at 1:33 PM
    Hi all,
    Ive had a few loans go bad on a P2P platform. These were from 2015. Am I able to claim these losses against tax I owe in 2017? Or is it only loans that have gone bad in the 2016/2017 tax year that I can claim?
    Thanks
Page 1
    • Cardinal-Red
    • By Cardinal-Red 2nd Oct 17, 3:27 PM
    • 636 Posts
    • 140 Thanks
    Cardinal-Red
    • #2
    • 2nd Oct 17, 3:27 PM
    • #2
    • 2nd Oct 17, 3:27 PM
    Hi,

    My understanding is that you can carry forward "losses" for up to four years but you can only offset them against interest received on other P2P loans, i.e. not against general income.

    You can also only carry forward if you have used up the loss against current in-year interest.

    I re-iterate this is my understanding; others may have a more learned view.
    The above facts belong to everybody; the opinions belong to me; the distinction is yours to draw...
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

671Posts Today

6,001Users online

Martin's Twitter
  • RT @LordsEconCom: On Tuesday Martin Lewis, Hannah Morrish & Shakira Martin gave evidence to the Cttee. Read the full transcript here: https?

  • Ta ta for now. Half term's starting, so I'm exchanging my MoneySavingExpert hat for one that says Daddy in big letters. See you in a week.

  • RT @thismorning: Can @MartinSLewis' deals save YOU cash? ???? https://t.co/igbHCwzeiN

  • Follow Martin