Business Loan Blog Image_Withholding Tax.png

P2P Lending & Withholding Tax

Posted by Niall Dorrian on May 24, 2018 5:45:00 PM

We want to provide a quick update on a recent communication from the Revenue Commissioners which offers guidance on how interest from peer-to-peer lending should be treated for tax purposes.

We feel that this guidance puts an unacceptable administrative burden on Irish SME’s. As such, we have entered into a discussion with the Department of Finance, on behalf of our borrowers, in order to agree a simpler way of ensuring any tax obligations are met.

We have shared our view with the Department that all P2P loans should be exempt from withholding tax, and we are seeking an amendment to existing legislation to give P2P lending a specific exemption similar to the approach taken in the UK market.

In the meantime, we would advise lenders and borrowers to continue using the platform as normal.

We will post an updated blog, or contact our borrowers and lenders directly, when we have further information, but if you have specific queries in the meantime, please don't hesitate to contact us at help@linkedfinance.com

Business Loans but Different

A Better Way to Borrow for Your Business

Linked Finance connects great local businesses who need loans with thousands of individual lenders. This is about using technology to bring business lending back to basics; real people with savings lending to great local businesses at attractive interest rates. Businesses get the funds they need to grow, lenders make a fair return. Everybody wins!

If you need a loan to grow your business, talk to Linked Finance

  • You get a same-day credit decision.
  • You can borrow up to €250K.
  • No early repayment penalties.
  • A friendly, no-hassle approach.
  • Promote your business.
  • Win new customers as part of the process.

Subscribe to Email Updates

Need a loan to grow your business?

Apply online now in just 2 minutes!

Recent Posts