The UK’s chief financial regulator, the Financial Conduct Authority (FCA) has released a statement regarding the eligibility of crowdfunders to market the Innovative Finance Individual Savings Account (IFISA). The IFISA is, in theory, available next week, when the new tax year begins. Investors will be able to commit as much as £20,000 to an IFISA […]
There was lots of good news for crowdfunders and peer-to-peer (P2P) lenders in yesterday’s Budget. Money&Co.’s CEO, Nicola Horlick, has already welcomed the raising of the Individual Savings Account (ISA) limit to £20,000, up from £15,240 – good news for the new Innovative Finance ISA, which will be able to include P2P loans, such as […]
So the Individual Savings Account (ISA) limit is raised to £20,000 per annum in today’s Budget. That’s potentially excellent news for savers and investors. “The timing of the Chancellor’s announcement, coming as it does ahead of April’s launch of the Innovative Finance ISA (IFISA) demonstrates both the government’s seriousness of purpose in encouraging individuals to […]
The Innovative Finance Individual Savings Account (IFISA) is coming in April. IFISAs will allow peer-to-peer (P2P) lenders like Money&Co. to offer our loans via this attractive tax-free medium. There’s a little more detail on this in the short extract from the Go Compare financial article below. The key question, procedural and regulatory issues aside, is […]
The Mail on Sunday reports on the scramble to bring the new “Innovative Finance Individual Savings Accounts” (IFISAs) to market. The IFISA will allow investors to acquire assets up to £15,240 per annum free of income or capital taxes. That means that Money&Co. lenders would be able to take income on this amount of lending […]
Young industries often find themselves with teething problems. Witness the agonising over the implementation of Innovative Finance ISAs (aka IFISAs – tax-free savings plans holding up to £15,240 permanently free of capital or income taxes). The UK government has been enthusiastic about helping peer-to-peer (P2P) crowdfunders like Money&Co. reach a mass audience – and IFISAs are […]
Excitement is growing about the imminent arrival of the Innovative Finance ISA (IFISA), which will technically be available from 6 April. Technically is the key word. The government was keen to introduce the IFISA in order to help provide much-needed access to finance for UK small and medium-sized companies (SMEs). However, almost unnoticed, a statutory […]
The prospects for the Innovative Finance ISA (IFISA), set to launch in April, look good. Soon, investors and lenders will be able to hold £15,240 in peer-to-peer (P2P) loans and enjoy the income tax-free. City AM cites research that predicts a take-up of some 400,000. But not everything in the IFISA garden is rosy. The […]
The crowdfunding industry is facing what some term “First World Problems”. In other words, the future is warm and bright for the industry and consumer alike – and the major difficulty is how to make the best of a good situation. In concrete financial terms, the Innovative Finance Individual Savings Account (IFISA), which will be […]
Today we carry a piece that will not bring regular readers new news. But we are pleased that our friends at Compliancy Services have written what they have written. The article is a sign of the times – ie, that alternative finance, including crowdfunding and the peer-to-peer (P2P) business lending (a sub-sector of crowdfunding) that we do […]