Returns earned with Go & Grow may be taxable depending on your country of residence. You should report your interest income to your local tax authority according to the laws in your country.
How taxation works
The profits you earn through Go & Grow are generally taxed based on:
The gross interest received
Your country of tax residency
Because tax rules vary from country to country, investors are responsible for declaring their interest income to the relevant tax authority.
Please note that with peer-to-peer lending, individuals generally cannot offset investment losses against interest income.
Check your local tax rules
Tax regulations differ depending on where you live. For this reason, we recommend checking with your local tax authority to understand:
If you need to report your income
How to report it
When it must be declared
Tax reporting for Go & Grow investors
To make tax reporting easier, Go & Grow provides a Tax Report that includes the information you need about your earnings.
You can find this report on the Reports page in your Go & Grow account.