Watch our short video and discover how a Money&Co. Innovative Finance ISA can work for you:
Our Innovative Finance Individual Savings Account (ISA) is the new way to receive income from Money&Co. loans completely tax-free. Just like Cash and Stocks & Shares ISAs, you can invest up to £20,000 in the current tax year, and you don't need to pay any personal taxes on your interest. You can use your whole annual ISA allowance if you decide to open an Innovative Finance ISA account with Money&Co.
Please note that tax treatment depends on your individual circumstances and may be subject to change in the future.
If you hold Money&Co. loans in an Innovative Finance Individual Savings Account, you can expect to get an interest rate of around 7 per cent net of our fees and it will be completely tax-free. You can choose to pay out the income that is due on your loans monthly, or you can keep the money in your account to reinvest in new loans.
You can only buy one Innovative Finance ISA, one Cash ISA and one Stocks and Shares ISA in each tax year. You can also transfer money held in a Cash ISA or a Stocks and Shares ISA from a previous year into an Innovative Finance ISA. If you want to transfer an ISA from another manager, please fill in the online application by clicking the 'Open An IFISA' button below and download, complete and return the transfer authority form by clicking on the 'Transfer An ISA' button.
If you already have a Money&Co. account and you want to open an Innovative Finance Individual Savings Account, click on the 'Open An IFISA' button below to complete an online application. Your Innovate Finance ISA subscriptions will be held in a separate account and you will need to use a different email address to open it.
If you lend through Money&Co., your capital will be at risk. Please also note that P2P loans are not covered by the Financial Services Compensation Scheme. If you haven't used your ISA allowance for this year, you must do so by 5 April or you will lose it. If you haven't made a loan via Money&Co. before, please read the risk warnings and the FAQ section. You may also wish to consult a financial adviser before making an investment
Please note that P2P loans are not covered by the Financial Services Compensation Scheme. As a Lender your capital is at risk and you may lose money loaned to a specific Borrower.  The 7% target rate is variable, net of ongoing management fees and estimated bad debt.  Money&Co. will seek to recover any future bad debts but will not provide compensation should this be unsuccessful. For more information, please contact us either by email: firstname.lastname@example.org, or by phone: 020 3143 4000.
Click on the 'Login' or 'Join Now' button at the top right-hand corner of the screen and select the 'Apply for an Innovative Finance Individual Savings Account' option to fill in an online application.
Once your IFISA account has been opened, you must pay in at least £1,000 to start investing in loans and you can add to this at any time.
Either buy loans for your new Innovative Finance Individual Savings Account through our loan auctions or in the loan market. You can keep up to date with your account activity on your Account page.
ISA stands for Individual Savings Account. Investments within an ISA account do not attract tax. This means that any income generated by the investments will be tax-free and if you sell an investment within the account and make a capital gain, no tax will be payable, even if you have already used your capital gains tax allowance for that tax year.
IFISA stands for Innovative Finance Individual Savings Account. The IFISA was introduced on 6 April 2016. Previously, there were two types of ISA: the Cash ISA and the Stocks and Shares ISA. The IFISA allows savers to hold peer-to-peer (P2P) loans (including loans made to businesses) and cash in an ISA wrapper. This means that any interest earned on your loan portfolio will be tax-free.
Anyone who is over 18 years-old, and who is resident in the UK (which excludes the Channel Islands and the Isle of Man) for tax purposes. If you are working overseas, but work for the Crown or are on active service, you will be treated as being resident. If you are the spouse or civil partner of someone who is working for the Crown overseas, you will also be treated as being resident.
You can fill in the form online or you can print the form and fill it in by hand. You can also apply by telephone. All IFISA forms must be signed. So if you apply online or by telephone, we will send you the printed form, which you must sign and return to us within 30 calendar days of making the application. If you spot any mistakes on the form, please correct them and initial where you have made the change. Your form should be posted back to us using the address FREEPOST Money&Co.