UK budget to back alternative finance revolution

By Owen Sanderson
04 Dec 2014

The UK chancellor of the exchequer, George Osborne's Autumn Statement, announced a major boost for alternative finance through peer-to-peer (P2P) markets. Retail investors could soon use the tax exempt individual savings allowance wrapper to put money into P2P, unlocking a pool of capital worth more than £400bn for the sector.

It will also look at a withholding tax from P2P investments, meaning individuals would not have to fill in self-assessment tax forms to lend money in the market. Individuals would be allowed to net off losses from bad debt against other P2P income.

“This Autumn Statement announces support ...

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