Taxation often puts people off crowdlending before they even start. Once the rules are clear, it all becomes far simpler than you'd think: this guide explains what you actually pay on your interest income (31.4% flat tax from 2026), how to declare it box by box, and a few legal levers—progressive tax option, loss deduction, and installment-payment waiver—that let you optimize your tax bill.
Note: this article is educational and does not constitute personalized tax advice. Your personal situation (tax residency, income, investment amounts) may change the applicable rules. For substantial amounts, consult a tax professional or check official sources at impots.gouv.fr.
Let's recap the basics in a nutshell. In crowdlending, you lend money to a business (or a project sponsor) through a platform, and in return you receive interest. At maturity, the capital you lent is repaid to you.
From a tax standpoint, one thing is essential: it is your interest income that is taxed, not the capital you get back. Recovering the €1,000 you lent is not income; the €80 in interest that loan generated for you is.
Another key point: your interest is taxable in the year it is credited to your account (or paid to you), not the year you made the loan. A loan signed in late 2025 that starts paying interest in 2026 will be declared as 2026 income.
In the tax authorities' eyes, this interest is classified as investment income, treated the same way as fixed-income returns—like bond interest, for instance. It is this classification that determines how it is taxed.
Don't confuse the two. Crowdlending is lending: you lend money and receive interest. Crowdequity (or crowdinvesting) is equity investment: you become a shareholder and receive dividends or capital gains.
And of course, the taxation is not quite the same. This guide focuses on crowdlending; crowdequity is covered briefly near the end.
Since 2018, your crowdlending interest is automatically subject to the Flat Tax (Prélèvement Forfaitaire Unique, or PFU).
Since January 1, 2026, the rate is 31.4%, broken down into two parts:
Note: this rate has just increased. Until 2025, the flat tax was 30% (with 17.2% in social contributions). The 2026 Social Security finance law raised the CSG on capital income by 1.4 percentage points, bringing the total to 31.4%.
Timing matters: interest received in 2025 (declared in 2026) still falls under the old 30% rate, while interest received from 2026 onward is taxed at 31.4%.
The key word is "default." This is the regime that applies automatically, with no action on your part. But it is not the only option: there is an alternative that is sometimes more advantageous, which we explore right below.
You receive €1,000 in interest in 2026. With the flat tax at 31.4%, you pay €314 in tax (€128 income tax + €186 social contributions). You are left with €686 after tax. On interest received in 2025, the bill would have been €300.
You are not forced to accept the flat tax. You can choose to have your interest taxed under the progressive income tax scale—in other words, at your marginal tax rate. In that case, the 18.6% in social contributions remains the same, but the income tax portion adjusts to your situation.
The decision rule is simple: this option becomes worthwhile if your marginal tax rate is less than 12.8%. In practice, it mainly benefits:
If you are in a higher bracket (30% and above), the flat tax is almost always more advantageous.
To opt for the progressive scale, simply tick box 2OP on your tax return. Be careful, though: this choice is global. It applies to all your investment income and capital gains for the year, not just crowdlending. You need to weigh it against your overall investment picture.
My take: I only seriously consider the progressive option in two cases—if the household is non-taxable or at the very bottom of the 11% bracket. Once you move up, the flat tax almost always wins. The trap is ticking 2OP "just in case": the choice applies to ALL your investment income for the year, not just crowdlending.
This is one of the most attractive features of crowdlending, and yet few investors know about it. When a loan defaults and you do not recover your capital, that loss is not necessarily lost for tax purposes.
A capital loss on an unrepaid loan can be offset against interest generated by loans of the same nature. You can deduct it from the interest you received in the year of the loss, and also in each of the five following years. This is provided by Article 125-00 A of the French Tax Code.
In other words, if one of your loans goes bad, you can use it to reduce the taxable base of your other crowdlending interest. A way to cushion the blow.
A few conditions to know:
Important: only the capital loss is deductible—the difference between what you lent and what you actually recovered. The interest you would have received but didn't is not part of the calculation.
Over the year, you receive €2,000 in interest, but one of your loans, which is definitively uncollectible, cost you €800 in capital loss. You can offset this €800 against your interest: you will then be taxed on only €1,200.
An important caveat: this offset reduces only the income tax portion. Social contributions are still calculated on your gross interest; the loss has no effect on that base.
On your tax return, the loss reduces your taxable interest: concretely, you subtract it from the amount you report in box 2TT (your IFU typically shows it separately). The exact wording of the box has changed over the years, so check the current year's instructions.
This is the part that worries investors most, yet it is often the quickest. French platforms provide you each year with an IFU (Fiscal Information Form), which summarizes your income. Part of your tax return is even pre-filled automatically.
But—and this is important—always verify the amounts before submitting: your net return depends on it.
| Box | What it contains |
|---|---|
| 2TT | Interest on participatory loans and mini-bonds—the box dedicated to crowdfunding. Some platforms use box 2TR instead. |
| 2TR | Interest and other fixed-income returns (bonds, etc.). |
| 2CK | The 12.8% income tax already withheld at source by French platforms. Do not forget this: it is a tax credit that prevents you from being taxed twice. |
| 2BH | Interest already subject to social contributions, with deductible CSG (if you opt for the progressive scale). |
| 2CG | Interest already subject to social contributions, without deductible CSG (under the flat tax). |
| 2TU | Capital losses to offset against your interest. |
| 2OP | Box to tick if you opt for the progressive scale rather than the flat tax. |
My advice: if I had to give just one tip, it would be this—keep a spreadsheet from your first loan. One row per platform, one column per month, and note the interest you receive as it comes in. Two minutes a month avoids the May panic when you have to reconstruct an entire year.
Here is a point that escapes many investors but can significantly improve your cash flow.
On French platforms, the 12.8% income tax is not paid the following year: it is withheld at source, along with the 18.6% in social contributions. This is called an advance (or non-liberatory withholding).
It is not an extra tax, far from it: it is an advance, settled when you file your return.
The problem is that if you are lightly or not taxed, you are making a free loan to the state for several months—money that sits idle instead of working for you.
Good news: you can request a waiver. You are eligible for a waiver if your tax income reference from two years prior (N-2) is below:
You request this from the platform, usually before November 30 for the following year. A simple reflex that improves your cash flow without changing your final tax bill.
More and more French investors diversify across European platforms, often chasing higher returns. From a tax standpoint, a few important differences apply.
First, the principle remains the same. As a French tax resident, your interest is taxable in France, regardless of where the platform is located. There is no European loophole to escape it. What changes is how you declare it.
First difference: foreign platforms do not withhold French income tax at source. You therefore do not get the pre-filling benefit, and you must declare your gross interest in box 2TT yourself.
Second difference—and do not forget this one: you must declare each foreign account via the dedicated form (3916 / 3916-bis depending on account type). This applies to every account opened, used, or closed during the year, even if its balance is zero. The information required is simple: platform name, country, account number, and opening date. Forgetting this declaration can cost dearly if audited, so it is worth making it a habit.
Since Switzerland is not an EU member, it deserves its own section—for example, with Maclear.
Switzerland levies an "anticipated tax" of 35% on certain investment returns, withheld at source. Depending on the nature of the interest and the platform's structure, your interest may therefore arrive reduced by this withholding.
This is not permanent double taxation: the France-Switzerland tax treaty generally assigns interest taxation to your country of residence, France. Any anticipated tax withheld is then recovered not through a French tax credit, but by requesting a refund directly from the Swiss tax authority (within three years).
In any case, you declare your interest in France (box 2TT) and report the Swiss account on your foreign account declaration form (3916 / 3916-bis). The broader framework for investing in Switzerland from France is detailed in our guide to investing in Switzerland from France.
One useful note: not all Swiss platforms apply this anticipated tax the same way, and some interest is exempt from it. Before investing, check with the platform on its exact practice. It should provide you, with each payment, a statement showing gross interest, any withholding, and net amount: keep it for your tax return.
A word for those who also invest in equity. In crowdequity, you do not lend: you become a shareholder. You may then receive dividends and, upon sale, realize capital gains.
These returns are also subject, by default, to the flat tax (31.4% from 2026), with the same option to choose the progressive scale if it is more advantageous for you.
Note: if you hold these securities in a PEA-PME and make no withdrawals for at least 5 years, your gains are exempt from income tax and are subject only to social contributions instead of the full flat tax. An interesting long-term optimization avenue worth considering based on your profile.
The rest is mechanics: verify your IFU, keep your spreadsheet current, and do not forget form 3916-bis if you invest abroad. With these habits, filing becomes a simple formality, and you can focus on what matters: growing your savings with peace of mind. Crowdlending remains a risky investment: capital is not guaranteed, and partial or total loss is possible.
Yes. Your interest is taxable as soon as it is credited to your account, whether you withdraw it or reinvest it. Reinvestment does not shield it from tax.
Yes. Crowdlending interest is taxable from the first euro: there is no minimum threshold exemption for this income.
You declare your gross interest in box 2TT and report the account on the dedicated foreign account form (3916 / 3916-bis), even if the balance is zero. For a Swiss platform, if a 35% anticipated tax was withheld, you recover it from the Swiss tax authority: the final tax bill, by contrast, is France's.
Yes, under conditions. A capital loss on a definitively uncollectible loan can be offset against interest of the same type, in the year of loss and the next five years, up to €8,000 per year (Article 125-00 A of the French Tax Code).
The flat tax is 31.4% from 2026 (12.8% income tax + 18.6% social contributions). The progressive scale is worthwhile only if your marginal rate is below 12.8% (non-taxable households or the 11% bracket). Beyond that, the flat tax stays more advantageous. Model both options before ticking box 2OP.
Maclear AG is a Swiss-based P2P lending and crowdlending platform headquartered in Switzerland. The company operates as a financial intermediary in the non-banking sector and is a member of PolyReg SRO, in compliance with Swiss financial regulations including AML, KYC, and GDPR. Maclear offers retail and qualified investors access to vetted business loan opportunities, with built-in risk assessment, a Provision Fund, and a Secondary Market for liquidity.
The content of this article is provided for informational and educational purposes only. It does not constitute investment, financial, tax, or legal advice. P2P lending and crowdlending investments carry a risk of partial or total capital loss. Past performance is not indicative of future results. Liquidity on a secondary market is not guaranteed. Readers should conduct independent research and consult qualified advisors before making any financial decisions. Availability of products and services may be restricted in certain jurisdictions.
