Will Peer-To-Peer Lending Be Allowed In ISAs?
According to this article in the Telegraph, it looks like it might happen. Here’s the first bit from the article.
Savers will be able to earn tax-free returns on peer-to-peer lending websites under plans to allow this type of investment within an Isa, The Telegraph understands.
Industry sources said a consultation on opening up Isas to peer-to-peer lending – sometimes referred to as “crowdfunding” – is expected to be unveiled by George Osborne in the Autumn Statement on Thursday.
At present my total losses from my Zopa lending is £708.93. That should be judged against total earnings of £16,009.32.
But if they allow losses to be set against tax in ISAs, then I suspect, we may see peer-to-peer losses to be set against your tax bill. So on that basis, I will be a couple of hundred pounds or so better off.
Zopa at present is lending a small amount less per day, than it was a month or so ago. So allowing losses to be set against tax, may well get more people to put their savings there.
The only losers in this case, will be the banks and building societies, who pay a derisory rate of interest.
The Anonymous Widower 
[…] soon be allowed to be wrapped up in an ISA. There have been articles in The Independent and the Daily Telegraph. Both papers are not noted for printing rumoours and […]
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