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Post by newlender on Mar 21, 2018 8:36:38 GMT
In today's Times ISA supplement there's a double-page spread about IFISAs. It says that only 2000 have been taken out so far - is that correct? Are the overall figures across all platforms available anywhere for us to see?
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happy
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Post by happy on Mar 21, 2018 9:21:39 GMT
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Post by dan1 on Mar 21, 2018 9:29:01 GMT
In today's Times ISA supplement there's a double-page spread about IFISAs. It says that only 2000 have been taken out so far - is that correct? Are the overall figures across all platforms available anywhere for us to see? alone, I think you'll find 
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IFISAcava
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Post by IFISAcava on Mar 21, 2018 14:08:23 GMT
In today's Times ISA supplement there's a double-page spread about IFISAs. It says that only 2000 have been taken out so far - is that correct? Are the overall figures across all platforms available anywhere for us to see? alone, I think you'll find I only have 22 - and 4 of them have no money in! But with MT and Archover coming soon, I just need one more for the quarter century.
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IFISAcava
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Post by IFISAcava on Mar 21, 2018 14:10:44 GMT
But if those figures are correct, i have more than one in a hundred of all IFISAs...
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Post by mrclondon on Mar 21, 2018 16:03:00 GMT
In today's Times ISA supplement there's a double-page spread about IFISAs. It says that only 2000 have been taken out so far - is that correct? Are the overall figures across all platforms available anywhere for us to see? I've not seen the Times article, but I suspect that figure of 2000 relates to the 2016-17 tax year not the current 2017-18. On page 2 of the IFISA report published by Alt-Fi this January ( pdf) they say "According to the most recent HMRC figures – disputed by some in the industry – about 2,000 IFISA accounts were opened during the 2016-17 tax year, attracting total “new money” subscriptions of £17m, or £8,500 per IFISA on average."However, that said, with the depth of p2p platforms memberships only reaching 20-25 thousand people (e.g. AC / L), it is improbable that there are more than say 7 to 10 thousand current year IFISA's in existence (excl transfers which I don't think will show in the HMRC figures anyway). Which in a country of c. 50 million adults is a drop in the ocean.
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Post by newlender on Mar 21, 2018 16:12:03 GMT
Ah, that explains where the 2000 figure came from. As Zopa and Ratesetter didn't have an IFISA in that tax year it's not surprising that the figure is low. I opened mine in June 2017 (with Zopa) so I'll be in the 2017/18 statistic.
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mason
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Post by mason on Mar 21, 2018 19:44:36 GMT
Ah, that explains where the 2000 figure came from. As Zopa and Ratesetter didn't have an IFISA in that tax year it's not surprising that the figure is low. I opened mine in June 2017 (with Zopa) so I'll be in the 2017/18 statistic. No significant P2P platform offered one in that tax year. I opened one with one of the minnows (who didn't even have any investment opportunities at the time) and flexibly withdrew the money until I could transfer it to one of the several platforms I used. Most people would have just used a cash ISA for the same purpose, but I had also paid into a help to buy ISA (with the sole purpose of transferring it to a LISA), so couldn't open another cash ISA during that tax year. TBH, I'm surprised the figure is as high as 2000.
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rzys
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Post by rzys on Mar 24, 2018 20:27:30 GMT
There's a distinction between "opened" and "subscribed to" as well.
In 2016-7, I was one of the 2000. I opened and subscribed to one IFISA (LW).
The following year, I subscribed to one, but opened quite a few more by transferring.
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