P2P claiming losses to reduce tax

vertex

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

Cardinal-Red

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.