ribs
Probably not James Marshall
Posts: 148 
Likes: 151
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Post by ribs on Feb 10, 2015 13:43:29 GMT
Hi,
I guess everyone else is getting this email asking how we would like the government to class p2p ISAs:
* part of stocks and shares ISAs
* new 'lending ISA'
I'm having two issues:
1) I'm having trouble making an informed choice as I don't understand the pros and cons of each
2) Google is warning me to be wary of the email and isn't letting me click the links to complete the survey anyway, but I guess that's not ratesetter's problem.
Can anyone advise me on the direction to go to fix problem 1? I've added a poll for fun if people are voting to show which way they went.
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bigfoot12
Member of DD Central
Posts: 1,817
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Post by bigfoot12 on Feb 10, 2015 14:30:48 GMT
I went with integrated into stocks and shares. I made this choice slightly capriciously as I don't have enough information. My reasons are:-
It makes it clear that P2P is a risky activity - like buying stocks and shares.
It reduces the number of platforms I have to be involved with.
Might make Hargreaves Lansdown's (et al) entry easier/quicker.
I assume that as now we will be able to transfer across products and so it won't really make that much difference.
If there is a need to have different rules, for example, not insisting on an easy exit for P2P products, then I would rather there was a different wrapper.
Who knows?
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Post by Deleted on Feb 10, 2015 14:45:21 GMT
I assume it is spam and deleted it. Beware junk through the mail
In process of deleting H-L at the moment as it is a far too expensive portal, moving stuff to iweb and iii as more cost affective
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adrianc
Member of DD Central
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Post by adrianc on Feb 10, 2015 15:06:56 GMT
Haven't received it.
Surely there's not really a particularly relevant difference to savers, now that the cash ISA allowance has been raised to the same amount as the s'n's?
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
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Post by ramblin rose on Feb 10, 2015 15:27:36 GMT
I assume that as now we will be able to transfer across products and so it won't really make that much difference. Never safe to make assumptions. Not all ISA providers allow you to transfer in now - they are able to allow it, but not forced to. So, whether or not the p2p providers enable transfers 'in' could make a big difference.
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Post by davee39 on Feb 10, 2015 17:25:24 GMT
An S&S platform wont carry a 3rd party ISA for free, furthermore an S&S ISA is of little benefit to basic rate taxpayers unless you invest directly in bonds or intend to realize more than around £10k of capital gains in any one year. One advantage would be to allow the ISA allowance to be spread across platforms. The IT changes needed could delay introduction even further, so I would go with letting the bigger platforms run their own ISA product alongside their normal accounts.
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vino
New Member
Posts: 3
Likes: 1
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Post by vino on Feb 10, 2015 17:25:48 GMT
I'd want P2P in a separate ISA wrapper. That way I can invest tax-free in equities and P2P at the same time.
If P2P was bundled in with S&S, then given you can only subscribe to one S&S ISA per tax year, I'd have to find a provider who does both in the same wrapper (highly unlikely, and probably poor value if it existed) or choose to only shelter one type of investment.
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jonbvn
Member of DD Central
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Post by jonbvn on Feb 10, 2015 19:49:51 GMT
I'd want P2P in a separate ISA wrapper. That way I can invest tax-free in equities and P2P at the same time. If P2P was bundled in with S&S, then given you can only subscribe to one S&S ISA per tax year, I'd have to find a provider who does both in the same wrapper (highly unlikely, and probably poor value if it existed) or choose to only shelter one type of investment. Agreed would give HL a massive advantage, at least in the shorter term.
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Post by GSV3MIaC on Feb 11, 2015 9:00:38 GMT
I usually shelter only one kind each year anyway, based on my expectations for returns, and risks (including how many eggs already in the baskets). Now you can move the historic part at will (assuming someone who'll take transfers in) it becomes even less exciting to split the current year.
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pikestaff
Member of DD Central
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Post by pikestaff on Feb 11, 2015 22:27:30 GMT
I have a strong preference for the two kinds to be separate - partly because the risk factors associated with p2p lending and with investing in stocks and shares are quite different, but more importantly because the skills, IT and financial reporting requirements of a p2p platform are very different from those of a typical stocks and shares ISA provider. I would prefer to go to the appropriate specialist for both.
I think the creation of a third type of ISA should be less confusing for investors, and much less challenging for ISA managers, than the creation of a hybrid ISA including both p2p and stocks and shares.
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pikestaff
Member of DD Central
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Post by pikestaff on Feb 11, 2015 22:29:24 GMT
...Haven't received it.... Lucky you. I've had 4 copies. One each from the 3 platforms I invest in, and one from FC, which I no longer invest in.
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adrianc
Member of DD Central
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Post by adrianc on Feb 12, 2015 8:25:59 GMT
...Haven't received it.... Lucky you. I've had 4 copies. One each from the 3 platforms I invest in, and one from FC, which I no longer invest in. <sniff> I feel... unloved.
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Steerpike
Member of DD Central
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Post by Steerpike on Feb 12, 2015 9:56:40 GMT
Lucky you. I've had 4 copies. One each from the 3 platforms I invest in, and one from FC, which I no longer invest in. <sniff> I feel... unloved. My email provider didn't like the look of these emails so I found them in the junk folder
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adrianc
Member of DD Central
Posts: 9,010
Likes: 4,821
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Post by adrianc on Feb 12, 2015 10:03:56 GMT
D'oh. Don't I just feel like a... user... now?
One from FC, none from RS. Also registered - but not lending - with ReBS (nothing). Nothing from THC, but I guess they're outside.
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