I’ve been preparing my UK personal self assessment returns to include P2P and Property Crowdfunding income. This posts looks at what I’ve found to be technically necessary and follows up with my interaction with the platforms I invest in: exporting tax reports and specific tax questions. I’ve already written about how the UK government calculates tax on P2P income here, but have pasted in the relevant parts: Read more “UK P2P Self Assessment Taxes”
I try to publish a round up of my peer to peer investments each month and their annualised rates of return, which involves going into each platform one by one and copying the data into my spreadsheet. This month I’m trying to combine it with doing the self assessment tax return which is taking a lot longer than I expected. Different platforms appear to treat certain cashback as taxable and others not. For example, most consider the cashback you receive as an incitement to join as a new customer as non-taxable. However, at least one treats it as taxable (e.g. Zopa, after multiple mails to customer service to clarify). Landbay is in no-mans-land, considering it non-taxable but including it by mistake as taxable on their tax statement export. Some consider the cashback interest you receive while a loan is funding as non-taxable and others as taxable (e.g. Landbay). Read more “May 2017 Income Report”
My Old Investment Portfolio
My old stocks and shares portfolio was an unorganised collection of funds that I’d purchased over the past couple of years with no strategy. This was after an older reorganisation of an even less organised, higher-fee collection of funds. Read more “A Low-Fee Stocks & Shares ISA Portfolio”
My Experiences With New Customer Sign-Up Bonuses
First written 8th September 2016, last updated 27th December 2016.
Traditional banks like HSBC, Cooperative Bank and First Direct have been running signup bonuses of up to £150 for years to attract new customers. Many of the latest Fintech startups and peer-to-peer lenders have followed suit with bonuses generally from about £25 to £100. For a lending platform trying to attract new investors in what is now such a crowded market it’s worthwhile. For investors, it provides a buffer for potential bad debt on individual loans and more than offsets the time lag in queuing for your funds to get invested. On some platforms like RateSetter who offer £100 on a £1000 investment it can increase your first year return to over 16%. Read more “New Customer Cashback Experiences”