<Press
  • >
  • Press>
  • money.co.uk comments: Treasury confirms new Innovative Finance ISA

Press Centre

email: press@money.co.uk phone: 020 3872 5665

money.co.uk comments: Treasury confirms new Innovative Finance ISA

Dom James photo

Written by Dom James, Financial Content Writer

15 August 2019

Hannah Maundrell, Editor in Chief at money.co.uk, comments on the 2015 Summer Budget announcement that a new Innovative Finance ISA will be introduced in April 2016.

Hannah Maundrell, Editor in Chief at money.co.uk comments:

"The UK Government has been toying with the idea of allowing people to invest their ISA allowance in peer-to-peer products for some time now and I suspect today's announcement is likely to be the 'shot in the arm' the industry needs to see accelerated growth. In fact, our research shows that 40% of consumers claim they would invest in a P2P product if they could do so under their tax free ISA allowance.

"People might be put off by the fact that many of these products are quite complicated. If they are really going to takeoff, I think that simplification is key. You can't escape the fact that there are some great returns on the table but, as with all investments, these accounts are not without an element of risk. Consumers shouldn't plunge their life savings in without understanding exactly how their money will be used. Equally, they are not covered by the FSC."

press@money.co.uk

Our spokespeople

Salman Haqqi

Salman Haqqi, Senior Personal Finance Writer

Salman Haqqi spent 10 years as a journalist reporting in several countries around the world. He left the world of journalism to pursue his passion for personal finance.

Read Salman Haqqi's articles and guides
Joel Kempson

Joel Kempson, Personal Finance Writer

Joel Kempson devotes his time to helping people navigate the world of personal finance and make informed decisions about their money. He spent his early career writing about TV, movies, comic books and rock music.

Read Joel Kempson's articles and guides