28th February 2023
The time is IFISA season! This article discusses how an IFISA could benefit you, and why you should choose Crowd2Fund.
What exactly is an IFISA? IFISA stands for Innovative Finance Individual Savings Account. All ISAs are tax-free savings vehicles, introduced by the UK government to encourage saving and investing. With an IFISA, you can invest in “innovative finance”, tax-free. It’s important to understand that this differs from a Cash ISA, which is a savings account held in a bank, and while IFISAs offer higher rates of return, they are also higher risk.
What are the benefits? The IFISA allows you to earn tax-free income while helping British businesses grow. It provides you with an opportunity to get involved in innovative businesses and exciting new markets, while potentially earning high returns on your investments. Innovative Finance ISAs, or IFISAs, were introduced in 2016 and have quickly gained popularity. By the end of 2019, investors interested in supporting growing British businesses had subscribed £1 billion through IFISAs across more than 40,000 accounts, according to the Peer-to-Peer Finance Association. In short, an IFISA is an excellent opportunity for engaged investors looking to support entrepreneurial businesses and enter new and exciting markets.
So, why should you choose Crowd2Fund? Crowd2Fund was the first platform to offer the Innovative Finance ISA in the UK. We were recently awarded ‘Most Innovative P2P Platform’ for the third year running at the MoneyNet Awards. With us, you have complete control over your money. The adaptable IFISA allows you to back entrepreneurs of your choice while potentially earning 6 to 18% in tax-free returns before fees and bad debt. Some Crowd2Fund businesses even offer exciting tangible rewards to their investors, such as unique products or services in addition to high returns.
To get started: Download our app and register for free, or email us here.
Tax treatment of any of the investment offers will depend on the individual circumstances of each investor and may be subject to change in the future.
Past performance and forecasts are not reliable indicators of future results. Your capital invested is not covered for compensation in the event of a loss by the FSCS. Tax treatment will depend on the individual circumstances and may be subject to change. Please see our Risk section before making an investment decision.