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Peer2Peer Finance News | March 28, 2017

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IFISA Guide

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What is the Innovative Finance ISA (IFISA)?

The IFISA is a tax-free wrapper that allows UK investors to lend money through Financial Conduct Authority-authorised peer-to-peer lending platforms. They can receive interest and capital gains tax free, up to the current annual ISA limit of £15,240. This is set to go up to £20,000 for the next tax year.

The product was first announced by then-Chancellor George Osborne in 2015. Consumers can invest in a cash ISA, a stocks and shares ISA or an IFISA, or a combination of the three.

IFISAs currently available

Type of loans Minimum investment Target rate of return
HNW Lending Valuable assets £5,000 Up to 15 per cent
CapitalRise Property finance £1,000 Up to 14 per cent
CrowdforAngels Crowd bonds £100 Up to 12 per cent
LandlordInvest Property finance Depends on loans funded Up to 12 per cent
PropertyCrowd Property finance  £5,000 Up to 10 per cent
Crowd2Fund Business loans £100 8.7 per cent
Crowdstacker Asset-backed business loans Depends on loans funded Up to 6.8 per cent
Basset & Gold Asset-backed loans £1,000 6.12 per cent for one year
20.1 per cent for three years
Lending Crowd Business loans £1,000 6 per cent
Downing Crowd bonds £100 5.79 per cent
Lending Works Personal loans £10 3.8 per cent for three years and 4.5 per cent for five years
Landbay Property finance £5,000 3.75 per cent
Abundance Energy-related projects Depends on project funded Depends on projects backed
2 per cent on cash