Published Monday, May 1st, 2017

April IFISA Roundup

2017’s IFISA narrative has been pivotal, dynamic and has seen much traffic in the way of new services and products. In January, Lending Works was the first of the major peer-to-peer lending market players to launch its own IFISA product. Furthermore, several peer-to-peer platforms have themselves been obtaining approval by the necessary regulatory bodies, while many of platforms that have already released their own ISAs, have seen encouraging levels of uptake.

We look specifically at the past month, which has been as interesting as it has active, attributed in part, no doubt, to the past month containing the end of the 2015/16 tax year, and the start of the 2016/17 tax year.

New Tax Year

The subjects of taxes and ISAs obviously go hand in hand, particularly as the popularity of ISAs rather heavily depends on their tax-free status. It is therefore unsurprising that the new tax year has been an interesting time for those promoting the new ISA:

New providers

The past month has seen a fair few IFISA providers launch their exciting new avenues of tax free investments, including:

IFISA Landscape

Awareness of the IFISA grows amongst consumers, and now that the ceiling for the investment amount has been pushed up, these investors have the added incentive to find the IFISA product that could be right for them. Whilst the Spring budget gave no added impetus for the peer-to-peer ISA cause, the tax-free earnings on offer are incentive enough. Regulatory approvals continue to be pushed through, and already approved platforms are priming to launch their own ISAs. The coming months, and even just month singular, will see similar, if not more commercial announcements in the IFISA world.

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