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Peer2Peer Finance News | December 14, 2018

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RateSetter investors facing wait to file tax returns early

RateSetter investors facing wait to file tax returns early
Marc Shoffman

RATESETTER investors looking to file their tax return early have been stifled by the platform removing its tax statement functionality for enhancements.

The deadline for paper tax returns is at the end of October this year or it can be done online by 31 January 2019, but some may want to file at the start of the tax year in April if they are owed a tax refund.

Read more: Everything you always wanted to know about P2P tax

But RateSetter investors looking for their 2017/2018 tax statement have been met with a message stating that the statements are being enhanced and will be available by June.

“We’re enhancing the RateSetter account tax statements and expect 2017/2018 tax statements to be available by June,” the message said.

“We will be in touch when you can download your tax statement.”

Investors on the P2P Independent Forum have expressed frustration at the delay, especially as it means they would lose any potential interest on refunds owed from HMRC.

However, a spokesperson has said that the wait may be shorter than anticipated.

“We are working to make the tax statements available as soon as possible, which should be in May,” the spokesperson told Peer2Peer Finance News.

Read more: Taxing times: P2P’s perspective on HMRC guidance

Read more: Five things you need to know about IFISAs