Peer‐to‐peer lending platform Landbay has been granted ISA Manager status by HMRC, clearing the way for the launch of its Innovative Finance ISA before the end of the tax year.
In December 2016 the firm was one of the first established platforms to receive full authorisation for peer-to-peer lending and its application to become an ISA Manager has been approved by the Board of HM Revenue and Customs.
A statement from the firm read: “With all the relevant regulatory pieces in place, Landbay is now one step closer to offering our investors the opportunity to lend on prime residential property in a tax-efficient manner. Our operations and technology teams are now focused on delivery of the ISA which we will launch in February.
“This is a fantastic opportunity for current and future investors both this tax year and beyond, with the ISA allowance rising to £20,000 in April and further in line with inflation in years to come.”