As the UK heads towards the European Union exit door, a number of government initiatives to facilitate trade appear. Without a high-level trade deal – the one that was supposed to be “oven-ready” would be just fine – one wonders how useful these initiatives will prove to be.
International Trade Secretary Liz Truss has launched 11 new trade advisory groups (TAGs), as part of a major new business engagement drive designed to support the UK’s ambitious trade negotiations.
As trade talks with Japan, the US, Australia and New Zealand intensify, the Trade Secretary is stepping up engagement with key industries across Britain, including farming, manufacturing and automotive.
Their advice will be used to help inform the government’s negotiating position and deliver key industry asks that benefit the whole UK, including securing new market access on products like ceramics, cars, steel and beef, and agreeing cutting-edge digital trade rules.
The new groups are comprised of the best and brightest businesses people from all parts of Britain, from whisky distillers in Scotland to car manufacturers in the Midlands, as part of DIT’s efforts to ensure trade deals benefit all regions and devolved administrations.
Historical Performance And IFISA Process Guide
That figure is the result of over £21 million of loans facilitated on the site, as we bring individuals looking for a good return on capital together with carefully vetted small companies seeking funds for growth. Bear in mind that lenders’ capital is at risk. Read warnings on site before committing capital.
All loans on site are eligible to be held in a Money&Co. Innovative Finance Individual Savings Account (IFISA), up to the annual ISA limit of £20,000. Such loans offer lenders tax-free income. Our offering is an Innovative Finance ISA (IFISA) that can hold the peer-to-peer (P2P) business loans that Money&Co. facilitates. For the purposes of this article, the terms ISA and IFISA are interchangeable.
So here’s our guide to the process:
The ISA allowance for 2019/20 is unchanged from last tax year at £20,000, allowing a married couple to put £40,000 into a tax-free environment. Over three years, an investment of this scale in two Money&Co. Innovative Finance ISAs would generate £8,400 of income completely free of tax. We’re assuming a 7 per cent return, net of charges and free of tax here.
Once you have made your initial commitment, you might then consider diversifying – buying a spread of loans. To do this, you can go into the “loans for sale” market. All loans bought in this market also qualify for IFISA tax benefits.
Risk: Security, Access, Yield
Do consider not just the return, but the security and the ease of access to your investment. We write regularly about these three key factors. Here’s one of several earlier articles on security, access and yield.