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Peer2Peer Finance News | November 24, 2017

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HMRC

Funding Circle to launch IFISA next week

November 23, 2017 |

FUNDING Circle is to roll out its Innovative Finance ISA (IFISA) to some of its existing investors from next week.

The tax wrapper will go live on Thursday 30 November, with priority given to active investors who have lent money since … Read More

Budget: Personal savings allowance ‘hampered’ IFISA take-up

November 22, 2017 |

TAKE-UP of the Innovative Finance ISA (IFISA) has been hampered by the personal savings allowance and the slow regulatory authorisation process, the Office for Budget Responsibility (OBR) claims.

The government’s independent public finances watchdog questioned why subscriptions for the tax wrapper … Read More

Checkmate over IFISA data

November 2, 2017 |

HMRC is facing claims that it is understating the popularity of the Innovative Finance ISA (IFISA) and displaying a lack of urgency in responding to contradicting figures.

In August, the taxman released data which showed the IFISA took £17m in … Read More

RateSetter plans to launch IFISA this tax year

October 18, 2017 |

RATESETTER has said it plans to apply to HMRC for ISA manager status and launch its Innovative Finance ISA (IFISA) before the end of the current tax year.

The peer-to-peer lender, which announced on Tuesday that it had gained full … Read More

Assetz Capital investors question cashback tax policy

September 26, 2017 |

ASSETZ Capital investors are questioning the new way the platform includes cashback offers in its tax statements.

The secured business and property peer-to-peer platform has altered the format of its customers’ tax statements due to the introduction of new tax … Read More

HMRC’s IFISA numbers come under scrutiny

September 7, 2017 |

PEER-TO-PEER lenders have questioned how HMRC collates data on Innovative Finance ISA (IFISA) subscriptions after official statistics seem to contradict the platforms’ own figures.

HMRC has reported £17m IFISA subscriptions and 2,000 accounts in the 2016-17 tax year.

This prompted … Read More

2,000 IFISAs subscribed last year as consumers eschew low-yielding cash ISAs

August 31, 2017 |

TWO THOUSAND Innovative Finance ISA (IFISA) accounts were subscribed in the last tax year, with retail investors collectively putting £17m in to the tax-free wrapper, official figures show.

ISA statistics released on Thursday by HMRC include IFISA data for the … Read More

P2P firms alert HMRC to IFISA issues

August 29, 2017 |

PEER-TO-PEER lenders are among a group of companies that are set to present HMRC with a list of Innovative Finance ISA (IFISA) concerns, Peer2Peer Finance News has learned.

P2P business lender ThinCats, IFISA technology provider Goji and financial services trade … Read More

Funding Circle receives ISA manager status

August 25, 2017 |

FUNDING Circle has received ISA manager status from the HMRC, Peer2Peer Finance News can reveal.

Approval was granted in July, less than two months after the platform won full FCA authorisation.

However, the platform has no immediate plans to launch … Read More

LandlordInvest reaches £1m lending milestone

July 17, 2017 |

BUY-TO-LET peer-to-peer platform LandlordInvest has passed the £1m lending milestone.

The property lender, which launched in December 2016, has amassed 700 investors and completed six loans over the past seven months.

Filip Karadaghi, chief executive of LandlordInvest, said while there … Read More