I do UK Peer-to-Peer lending and stockmarket trading full-time and they are my exclusive source of income. I don't have a formally set-up business for this.
I'm just doing my self-assessment return and wondering if the costs I incur for P2P lending - they're not much, but things like the cost of buying and repairing a computer etc. - could be treated as expenses and offset against my income for tax purposes?
Or does P2P lending not allow one to claim expenses?
Also, am I technically a 'Sole Trader' or are there other requirements to qualify for that? (I've studied definitions of a Sole Trader in the UK and seem to qualify.)
Cheers.
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