IFISA Launch: A race, or an obstacle course?

The Financial Times imagines peer-to-peer lenders in a race against time to get their IFISA offerings ready for the 6th April launch; but the more we go into the details, the more it looks like they are crawling through an obstacle course. 

soldier crawls through sand under barbed wire

The Innovative Finance Individual Savings Account (IFISA), which will be available from the start of the new tax year, is widely expected to accelerate the adoption of peer-to-peer lending in the UK. For the first time, investors will be allowed to put money in P2P loans tax-free through a new version of the highly popular Individual Savings Account (ISA) Money&Co. calls it 'a boon for individuals and crowdfunders alike.'

Don't Suffer Like A Fool

Another Crowd makes a point of not telling our readers what to think. We'd much rather help you to think for yourselves, and besides,  giving advice is a regulated activity. 

Marx Reichlich, A Jester, ca. 1519-20; tempera on panel.

Source: Wikimedia Commons

Nothing on Another Crowd is intended for trading purposes or to address your particular financial or other requirements. As long as you understand that, we'd like to share some wise words from a seventeenth century mystic.

What we learned when we raised from the crowd

This is a founder's story, from Brighton, about a company that went to the crowd to raise equity for a smartphone app. Nicole Carman worries that many of us are becoming addicted to our gadgets, and would appreciate some help. Her solution? A gadget that helps us to be mindful about the way we use technology, and helps us to improve our behaviour.

Glued's family using their phones and tablets

Nicole's company, wittily named Glued.to, has made an app that helps families to monitor their daily screen time on laptops, phones, and other gadgets, and helps them reduce device usage and make it more positive.

First IFISA product is revealed

In sixty days time, UK investors wil be able to put their money into the new IFISA (Innovative Finance ISA) and enjoy the risks and returns of peer-to-peer lending tax free.

Magician's wand and rabbit appearing from hat

Source: Pixabay

The first provider to announce a product is RateSetter. Ratesetter is the second biggest peer-to-peer lender to individuals, according to the Liberum AltFi Volume Index, with a 20% market share, just behind Zopa.