Simple Crowdfunding Innovative Finance ISA
About the Innovative Finance ISA (IF ISA)
WHAT IS THE IF ISA?
The Innovative Finance ISA is a type of Individual Savings Account (ISA*), sitting alongside Cash ISAs, Stocks & Shares ISAs and Lifetime ISAs.
*An ISA is a ‘wrapper’ that allows you to invest without paying income tax or capital gains tax on any interest or profits that you earn.
THE SIMPLE CROWDFUNDING IF ISA
The Simple Crowdfunding IF ISA gives you the opportunity to hold investments in Peer to Peer Lending projects offered on our platform, allowing for tax-free returns on the interest that you earn.
You can transfer your existing ISA or start a new one with Simple Crowdfunding. Use your annual ISA allowance to invest into property projects, receiving average returns of 9% pa (pro-rata) tax free, secured on property. Look for the 'IF ISA Eligible' banner on projects on our home page.
ALLOWANCE AND CRITERIA
For the tax year 2019-2020, the ISA allowance is £20,000, subject to a maximum of £4,000 into a Lifetime ISA.
Anyone who is resident in the UK for tax purposes and over the age of 18 can open an account with us.
It should be noted that the IF ISA is not the same as the Cash ISA and is not protected by the FSCS guarantee. Further details can be found in our Innovative Finance ISA FAQs.
If you still have questions, then please Contact the team.
Opening an account is free and simple
TRANSFER AN EXISTING ISA
The transfer process is simple. To transfer an existing ISA, you need to be Logged In. You can access the transfer screens from your portfolio (ISA Investments Tab) or through the drop down menu clicking on the below:
- Go to 'My Account' (top right hand of the screen)
- Click on 'IF ISA'
- Click on 'New Transfer'
Our team will request the transfer from your existing ISA provider as soon as the request is completed and keep you informed of progress.
CREATE A NEW IF ISA ACCOUNT
If you are already a Simple Crowdfunding registered investor, it is easy to set up your IF ISA account with us. You need to provide your National Insurance Number and transfer £10 into your new IF ISA account.
For new investors, you will need to Register first. This will take a few minutes.
You can also invest directly into IF ISA applicable projects that are ‘Open For Investment’. Click on the project that you are interested in and then click ‘Invest Using ISA’ and follow the online instructions.
START GROWING YOUR IF ISA INVESTMENT PORTFOLIO
Invest in Peer to Peer Lending projects of your choice and receive tax-free returns on your investments. You decide which projects you would like to be involved with. Once invested, a summary of your IF ISA and other investments are shown in your personal dashboard.