In the UK lenders are liable for income tax on the interest that they receive. Lenders can obtain online reports from Relendex of income and deductions in any tax period. Relendex is required by the UK tax authorities to deduct withholding tax (“WHT”) at the rate of 20% on interest paid to individual lenders. Relendex is not required to deduct withholding tax on interest paid to companies that are subject to UK Corporation Tax. UK individual lenders may treat the WHT that has been deducted as a tax credit against their overall income tax liability in any particular year. Lenders who are taxable in some other jurisdictions may alternatively be able to claim a tax credit for WHT that has been deducted. Lenders should seek independent professional advice in assessing their liability to taxation in the relevant jurisdiction.

You will be able to request an annual statement of interest earned by you for tax purposes, by defining the relevant reporting period in the Lender Account ‘History’ tab.