Crowdstacker announces IFISA details
FCA authorised peer-to-peer platform Crowdstacker has announced the full details of its new Innovative Finance ISA ahead of next week's launch.
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The Crowdstacker IFISA will enable investors to take advantage of earning tax-free interest on any of the investments featured on the platform.
Currently, this includes Amicus and Quanta, which are offering up to 6.8% over a choice of terms.
Karteek Patel, CEO of Crowdstacker, said:
“Our investors to date have secured rates of return of around 5-7%, and now we can offer this in ISA format so they can also reap the tax efficiency benefits.
“Our method is to offer a curated list of businesses which have passed our stringent due diligence process and are able to offer a variety of security back-ups to investors. So, unlike some other platforms in the P2P space our process isn’t about spreading risk across a number of more volatile businesses.
"Instead it is about investors choosing an investment opportunity that suits them and their individual circumstances, from amongst a small selection of solid British businesses with strong security. In that way it’s a bit more like a stocks and shares ISA, where you pick and choose your investments.”
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