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    • vertex
    • By vertex 2nd Oct 17, 1:33 PM
    • 120Posts
    • 11Thanks
    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?
Page 1
    • Cardinal-Red
    • By Cardinal-Red 2nd Oct 17, 3:27 PM
    • 646 Posts
    • 151 Thanks
    • #2
    • 2nd Oct 17, 3:27 PM
    • #2
    • 2nd Oct 17, 3:27 PM

    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...
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