The Innovative Finance ISA is a tax-free ‘wrapper’ for peer-to-peer investments.
Peer-to-peer platforms many only offer IFISAs to customers once they have passed the full FCA authorisation process and have been granted ISA manager status by HMRC. As of 22nd December 2016, Landbay has been granted full authorisation by the FCA and as of 16th January 2017 the Board of HM Revenue and Customs has granted Landbay ISA Manager status.
You can invest up to £20,000 into a Landbay Innovative Finance ISA this tax year (2017-18).
You will also be able to transfer in unlimited funds from existing Stocks and Shares and Cash ISAs.