"One in four investors aged over 55 will consider moving money onto peer-to-peer (P2P) lending platforms once the new innovative finance ISA launches in April," writes The Economic Voice. It quotes research conducted on behalf of our fellow P2P platform,ThinCats.
"Currently, just 4.5 per cent of investors in this age group use P2P platforms to bypass the banks and lend directly to individuals and businesses. However the new tax wrapper is expected to introduce the asset class to five times this number, as investors wake up to the anticipated tax benefits," continues the article.
"Under the new rules, P2P loans will be included in a brand new ISA wrapper, the Innovative Finance ISA, which will allow lenders to benefit from the extended £15,240 tax-free allowance set out by the Chancellor at last year's Summer Budget."
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