Earn 6.5% p.a. tax-free while giving British businesses a boost. The Innovative Finance ISA (IFISA) wrapper enables you to use your annual Individual Savings Account (ISA) allowance to earn tax-free returns from Peer-to-Peer lending.
Why invest in the FOLK2FOLK IFISA?
- Receive monthly tax-free interest of 5.5% p.a. or 6.5% p.a.
- Invest your full 2017/2018 ISA allowance of £20,000
- Secured against UK property
- Support local businesses, nationally
- Peer-to-peer lending is not covered by the Financial Services Compensation Scheme (FSCS)
- With peer-to-peer lending your capital is at risk if the borrower is unable to repay the loan
Read more about how we manage risk
A 1% Annual Administration Fee + VAT of the subscription amount applies for the creation of your IFISA wrapper. This annual fee is calculated on a pro-rata basis from the date your funds are received into your IFISA wrapper and will be collected by Direct Debit from your specified account the following month.
Tax overview of FOLK2FOLK IFISA
- Take a look at our Interest after Tax and Fees table to understand the implications for different tax brackets and the impact of fees.
- Please note that FOLK2FOLK cannot give tax advice and you should seek tax advice if required.
- Tax treatment depends on the individual circumstances of each client and may be subject to change in future.
How to set up a FOLK2FOLK IFISA wrapper
If you are an existing FOLK2FOLK Lender:
Please email IFISA@folk2folk.com and we will send you the application form to set up your IFISA wrapper
If you are not currently a FOLK2FOLK Lender:
- Transfers: Transfers in from external ISAs will be available shortly. Lenders will be notified once this is available.
- Waiting times: Your investment will be matched on a first-come-first-served basis bases via our lending queue. There are no guarantees as to how long it will take to be matched to a loan. Waiting times vary depending upon Borrower and Lender demand at the time.
- Interest: while your funds are not invested in a loan they will not be earning bank or loan interest.
For further information about lending via the FOLK2FOLK platform and our IFISA, download our Lender Guide. For full details please refer to our Terms & Conditions