Zopa

  • Thread starter Thread starter Phil Waters
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Phil Waters

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Can anyone remember the discussion we had on here a while back about Zopa? It is the "business" where you can be a borrower or a lender and if the latter you make interest on money you lend.

I know Honest Tom was involved in the discussion before. Anyone more familiar with Zopa yet?
 
Anybody know if you're a lender on it do you have to declare the interest to the tax or is it deducted at source as in banking interest?
 
Originally posted by Phil Waters@Jan 19 2007, 06:32 PM
I have no idea what you just asked.
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:lol: If you've got a savings account with a bank then the tax on your interest is deducted at source unless you request otherwise. That means you don't have to fill in a tax return each year declaring the money you made in interest. I was just wondering if zopa also automatically deduct tax at source.
 
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