Policy paper
Income Tax: Innovative Finance Individual Savings Account and peer to peer loans
Find out about interest and gains from peer to peer loans that qualify for tax advantages made through the new Innovative Finance Individual Savings Account (ISA) from 6 April 2016.
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Details
At Budget 2014, the Chancellor announced that peer to peer loans would become ISA qualifying investments. HM Treasury consulted on implementation of this measure between 17 October and 12 December 2014. HM Treasury’s response to this consultation, confirming that peer-to-peer loans would be eligible for a new type of ISA (the Innovative Finance ISA), was published at Summer Budget 2015.
Draft legislation and further guidance for this measure has also been published.