IFISAs: More Questions, More Answers


Question Woman

Between now and the start of the new tax year on 6th April, a lot of money will go into Individual Savings Accounts (ISAs) and the Innovative Finance ISAs (IFISAs) that are allowed to hold the peer-to-peer (P2P) business loans facilitated on Money&Co.'s crowdfunding platform. You can start the application process by clicking here. Below are some questions and answers for those considering making an IFISA investment. More background can be found here.

How much can I invest in an IFISA?

You can invest all of your ISA allowance in an IFISA during any given tax year. For 2016/17, your allowance is £15,240. In tax year 2017/18, the allowance goes up to £20,000.

If I don't use my full IFISA allowance in the current tax year, can I roll it into the next tax year?

No. If you don't use your full IFISA allowance in the current year, then you will lose the unused portion.

What is the minimum investment in a Money&Co. IFISA?

Money&Co. has a minimum investment level of £1,000 for the IFISA.

What happens if I change my mind after my IFISA application has been accepted?

If you change your mind and your IFISA subscription is still in cash, you can cancel or transfer your IFISA. If you have already bought a loan or loans in your IFISA account, these will have to be sold before you can cancel or transfer your IFISA account.

M&CLogo

Remember, capital loaned is at risk. We have a rigorous due diligence process and require borrowers to be debt-free ahead of facilitating a loan, and we also take a charge on the assets of the borrower as a safety net in the event of default. But do not lend without assessing risk carefully.



FOLLOW MONEY&CO. ON TWITTER

Search news

You may put double quotes around your search to search for literals. Max. 4 words inside quotes (dashed words count as one word).

Allowed symbols: " ' & -

More news

2019
AprilMarch
February
January
2018
DecemberNovemberOctoberSeptemberAugust
July
June
May
April
March
February
January
2017
December
November
October
September
August
July
June
May
April
March
February
January
2016
December
November
October
September
August
July
June
May
April
March
February
January
2015
December
November
October
September
August
July
June
May
April
March
February
January
2014
December
November
October
September
August
July
June
MayMarchFebruary

Search blogs

You may put double quotes around your search to search for literals. Max. 4 words inside quotes (dashed words count as one word).

Allowed symbols: " ' & -

More from blogs

2018
2017
2016
NovemberOctoberSeptemberAugustJulyJuneMayMarchFebruaryJanuary
2015
DecemberNovemberSeptemberAugustJulyJuneMayAprilMarchFebruaryJanuary
2014
DecemberNovemberOctoberSeptemberAugustJulyJune



Disclaimer: Money&Co.™ is the trading name of Denmark Square Limited, Company Number 08561817, registered in England & Wales, authorised and regulated by the Financial Conduct Authority (FCA). The company is identified on the Financial Services Register under Reference Number 727325. The registered office is 58 Glentham Road, Barnes, London, SW13 9JJ where the register of Directors may be inspected. Denmark Square Limited (ISA manager reference number Z1932) manages the Money&Co. Innovative Finance ISA.