UK Bond Network, the alternative finance provider that specialises in structuring and distributing investment opportunities in secured corporate bonds, has moved a step closer to offering a tax-efficient individual savings account (ISA), having been authorised as an ISA manager by HMRC.
Announced in George Osborne’s 2015 Budget and launched last April, the Innovative Finance ISA (IFISA) allows individuals to invest up to £15,240 per year in peer-to-peer loans, property-related investments and debt securities while sheltering their returns from income tax.
FCA-authorised UK Bond Network has partnered with Goji, a specialist builder of P2P products, to create its IFISA.
Chris Maule, CEO and Founder of UK Bond Network, said: “Receiving ISA manager status is another important stride towards the launch of our IFISA product, which we are targeting within the next month. It provides yet another attraction for existing P2P investors and a boon for potential new lenders - we look forward to opening up this new opportunity and offering tax-efficient investing.”
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