The Excess Reportable Income (ERI) is not available yet, so the UK tax statement for 2024/2025 is still not available as of yet. We'll let you know when it is available to download.
If you live in the US, this guidance doesn’t apply to you. Find out about earning interest on your Wise USD balance if you live in the US.
When you use Wise Interest or Stocks, you’re investing in units in a fund. What taxes you may have to pay for using these products depends on which country or countries you’re a tax resident in, and your financial circumstances. For example, in some countries, like the UK, you may not need to pay tax on gains if they fall within your tax-free allowances.
When you start using Interest or Stocks, we have to ask where you’re a tax resident. This means the country where you usually live and pay tax. Depending on the country, we might also ask for your tax identification number.
Wise and its affiliates can’t provide tax, legal or accounting advice. This guidance is for informational purposes only, to help you understand what you may owe. This guidance applies to personal Wise customers and some Sole Traders, but not businesses. In most countries, businesses are usually taxed differently.
If you still have questions about your taxes, we recommend speaking to a qualified professional.
Help with your tax return if you’ve already turned on Interest or Stocks
You can request a tax statement to help you complete your tax return. Your statement will show you what you might need to declare from your use of Wise Interest or Stocks.
If you’re in the UK
Wise has partnered with KPMG to provide the best and most complete summary of your income, gains and loss position on your holdings with Wise Interest or Stocks. These statements are not a tax return but they are meant to help you or a tax adviser prepare your tax return.
As a personal customer, you can request your statement each year on 6 May, which will cover the period up until 5 April of that year. For business account customers, you can request the tax statement for any month.
You can make the request through here: https://wise.com/balances/statements/tax. Once requested, you’ll need to wait up to 10 working days before we can share it with you. We’ll let you know when it’s ready to download.
To check if you can request a statement, log in to your account on the website (it's not available on the app yet), and follow these steps:
Select your profile name in the top-right corner
Select Statements and reports
Select Tax statements
Learn more about using your tax statement to help complete your tax return in the UK
If you’re in the EEA or Singapore
You can also get a report — it won’t be specific to your country but you can still use it to calculate your gains or losses.
If you’re in Australia
You can get an AMMA report.
If you have any questions about your taxes or filing a return
Please speak to a qualified professional. Wise can’t give you advice on your personal tax situation.
Tax guidance for each country
How we use your tax information
As a regulated financial institution, we’ll only share your tax information with relevant government tax authorities if we need to. This is to comply with international tax standards like the Common Reporting Standard (CRS) or the Foreign Account Tax Compliance Act (FATCA).
We might need to share information about where you're a tax resident, your gains and losses, and the amounts you hold in your Wise balances or Jars with Interest.
Depending on your country, you’ll still need to report your tax information and pay any taxes that might be due.