Assetz Capital has announced that its Innovative Finance ISA (IFISA) will be available as a wrapper on all of its investment accounts, including its manual lending account.
The peer-to-peer lender’s IFISA will launch in December 2017, with users able to use their £20,000 annual tax-free allowance on the Assetz Capital platform. They will also be able to transfer in past years’ ISA savings from their cash and shares ISAs.
New and existing Assetz Capital investors will be able to open an IFISA wrapper on the platform and then invest into any automated Assetz investment account in December. In an industry first, the IFISA is also set to include the popular Manual Loan Investment Account (MLIA) in the New Year.
Stuart Law, CEO at Assetz Capital said: “Our IFISA will be a great new tax-free investment choice for those that are new to peer-to-peer lending, but we also feel strongly about delivering a product that caters for our thousands of long-standing investors who prefer to choose their own loan investments within the Manual Loan Investment Account. That’s why we were determined to ensure that the MLIA will be allowed in our IFISA shortly after launch.
“As previously announced, the IFISA will launch across all of our automatic accounts by the end of 2017 and we’ll keep our investors up to date as we get nearer to the final go-live date. We will also shortly be releasing a queuing system in case we have excess demand for the IFISA that will allow our existing and faithful investors priority access to the tax free returns.”