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

Contact the Press Centre

Email: press@money.co.uk

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

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.

Share this guide
Money logo press

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, Personal Finance Editor

Salman Haqqi spent 10 years as a journalist reporting in several countries around the world. Salman left the world of journalism and moved to the UK to pursue a passion for personal finance and a desire to help people make informed financial decisions.

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

About Dom James

View Dom James's full biography here or visit the money.co.uk press centre for our latest news.