P2p interest
Posted 19 July 2017 under
Tax Q&A
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Lloyd says:
18 July 2017 at 16:13
I earned interest on a Peer 2 Peer investment in the UK, at https://www. Ratesetter. Com/. As this is a non-SA entity they do not provide IT3(b) statements. It is also not a bank/ institution but independent loans. As such, I am not clear if or were to add this amount in TaxTim. I did get a statement with the amount received of 110. 25GBP. Do I enter this amount at the point of "Did you earn any interest from a foreign bank / institution? On your IT3(b) you will see an amount under foreign interest. " ?
This query relates to question 6488 "Did you earn any interest from a foreign bank / institution? On your IT3(b) you will see an amount under foreign interest. " in the Interest & Investments (IT3b) section.
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and tagged Independent Contractor, Rental Income, Dividends, Penalties.
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TaxTim says:
19 July 2017 at 7:37
Yes kindly capture this amount at the foreign interest section even if you did not receive it from a bank.
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