skip to main content
4th
Dec 2013
/

Peer to peer lending may be soon included in ISAs

Industry sources say that a consultation on opening up ISAs to peer-to-peer lending - sometimes referred to as crowd funding - is expected to be unveiled by George Osborne in the Autumn Statement on Thursday. It's thought that any changes in this area would be likely to take effect in April 2015.*

What is peer-to-peer lending?

Peer-to-peer websites allow savers and borrowers to link up directly, with the aim of getting a better rate deal for both parties.

Current tax rules mean individuals involved in peer to peer lending have to pay income tax on profits earned, with customers asked to include any interest on self-assessment tax returns.

Supporters of the move argue that this change will offer significant benefits to those already involved in peer to peer lending schemes, as well as encouraging new investment.

The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.

No news, feature or comment should be seen as a personal recommendation to invest. If you are in any doubt as to the suitability of a particular investment you should seek independent financial advice.

* Source: http://www.telegraph.co.uk/finance/budget/10489168/Autumn-Statement-2013-Peer-to-peer-to-be-included-in-Isas.html

High Income ISAs

High income ISA ideas:

ISAs Products

Cash ISAs

Fixed Rate & Instant Access ISAs:

Cash ISAs: 

Stocks & Shares ISAs

Types of Stocks and Shares ISA include: 

Stocks and Shares ISAs

Latest News

How To Select The Best Junior Stocks & Shares ISA

15th February 2018

An ISA is an individual savings account that offers the chance for individuals to earn up to £20,000 tax-free interest.Not only can those who subscribe to an ISA benefit from tax-free interest from savings, but also enjoy the freedom to invest from their ISA and avoid paying tax on their returns.

Newsletter Signup

Sign up to our Newsletter to get exclusive news and offers direct to your inbox.

About us

ISA.co.uk is a trading style of Fair Investment Company.

We've been comparing and recommending ISAs for many years so you can trust you're in good hands.

About us

4.89 Average

35 Reviews

Paul

Very informative, find myself a good ISA account with best return in terms of interest.