Happy New Fiscal Year! £20k On Offer At 7% Net, Tax-Free


Party Woman

With a whole year ahead of us, we've really no excuse.

It may be that some of you missed the glaring, open goal that is making use of the tax benefits offered by Individual Savings Accounts (ISAs) – see our CEO, Nicola Horlick, on this very topic. But this time around, with a generous £20,000 of onshore tax-free benefit to be claimed, the benefits are too good not to be considered very seriously.

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The allowance for 2017/18 is increased from last tax year to £20,000, allowing a married couple to put £40,000 into a tax-free environment. Over three years, an investment of this scale in two Money&Co. Innovative Finance ISAs would generate £8,400 of income completely free of tax. To get that return, a pair of higher-rate tax payers would have to find a gross yield of well over 12 per cent.

According to Moneyfacts, a comparison site, the best fixed-rate cash ISAs (and they tie up money for two years) offer 1.2 per cent...

But, in Nicola's own words: "As with any investment, there are risks involved. We always take security for our loans, but it is still possible to lose money. Some of our loans carry more risk than others and we give them ratings of A+, A, B+, B and C+ to reflect how risky we believe that an individual loan is. The new loans that are currently on the site are rated A+ or A reflecting the quality of the security that has been given by the borrowers."

See also our News items on security, access and yield – all to be mulled ahead of an investment.

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Risk, IFISAs & P2P

If you haven't made a loan via Money&Co. before, please read the risk warnings and the FAQ section. You may also wish to consult a financial adviser before making an investment.



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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.