daveb4
Member of DD Central
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Post by daveb4 on Jun 28, 2017 20:05:22 GMT
Just thought I would ask where everyone's previous year's and this year's ISA P2P money is going? or are people still waiting for some more sites to announce?
I appreciate you can't really trade through an ISA but like the opportunity of a secondary market for emergencies.
I have put some of my old money in FS buying some good loans at discount as tax not an issue, but still waiting for some of the more popular sites on here to announce for this years funds.
Hopefully Abl, Atz, L, Mtng may hopefully have something by tax year end, choices, choices?
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Post by df on Jun 28, 2017 22:06:36 GMT
Just thought I would ask where everyone's previous year's and this year's ISA P2P money is going? or are people still waiting for some more sites to announce? I appreciate you can't really trade through an ISA but like the opportunity of a secondary market for emergencies. I have put some of my old money in FS buying some good loans at discount as tax not an issue, but still waiting for some of the more popular sites on here to announce for this years funds. Hopefully Abl, Atz, L, Mtng may hopefully have something by tax year end, choices, choices? FS, they were the first P2P platform to offer a good deal. I didn't see any point in waiting for others.
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littonowl
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Post by littonowl on Jun 28, 2017 22:10:09 GMT
I'm reserving this year's allocation for MT, as Ed recently indicated they would be prioritising its launch now, so likely to be quite a bit earlier than tax year end.
Will look to allocate 'old' ISA cash to Abl, Unbolted & Coll (if they don't solely become a prop co!).
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Post by MorphX00 on Jun 28, 2017 22:28:16 GMT
Just thought I would ask where everyone's previous year's and this year's ISA P2P money is going? or are people still waiting for some more sites to announce? I appreciate you can't really trade through an ISA but like the opportunity of a secondary market for emergencies. I have put some of my old money in FS buying some good loans at discount as tax not an issue, but still waiting for some of the more popular sites on here to announce for this years funds. Hopefully Abl, Atz, L, Mtng may hopefully have something by tax year end, choices, choices? Put my some of my old ISAs into FS and Relendex but I'm waiting for other sites to launch before transferring any more or using this year's allowance.
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IFISAcava
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Post by IFISAcava on Jun 28, 2017 23:59:47 GMT
So far (in order of amount invested):
HNW Lending
FS
Lending Works
Crowd2Fund
Proplend
Landlord Invest
Lending Crowd
Basset and Gold
Goji
Crowdstacker
Abundance
Waiting on ABLrate as likely next decent opportunity
Then Zopa when they allow new investors
Then MT, Coll, Unbolted, AC if & when they offer an IFISA
Basically most of my old ISA money accumulated over 20 years
Likely to rebalance/streamline away from some of these when all IFISAs available
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archie
Posts: 1,866
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Post by archie on Jun 29, 2017 6:53:17 GMT
Currently don't have any IFISAs. I have more money on MT than all the other platforms combined (*) so it makes sense that my IFISA money is allocated here. The only other platform currently under consideration Is ABL. (*) I realise too many eggs in one basket isn't that wise. When some other baskets have developed holes the eggs are in danger of breaking.  |
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jun 29, 2017 8:43:56 GMT
I think it is even more important to diversify within an ISA because any defaults will not be deductable for tax. I am reserving my current year allowance for now, waiting for MT and possibly (if it would be legal) a plain wrapper site that allowed me to invest where I want just like now. Chunks of previous years allowances have gone into LandLordInvest, PropLend and Goji.
If transferring into a platform which has a flexible ISA but not enough loans to absorb the amount you want to transfer it is easier to transfer the lot then withdraw and later re-invest, rather than transfer in chunks as loans become available. Obvious really, but something I originally missed with LLI.
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IFISAcava
Member of DD Central
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Post by IFISAcava on Jun 29, 2017 9:58:55 GMT
I think it is even more important to diversify within an ISA because any defaults will not be deductable for tax. I am reserving my current year allowance for now, waiting for MT and possibly (if it would be legal) a plain wrapper site that allowed me to invest where I want just like now. Chunks of previous years allowances have gone into LandLordInvest, PropLend and Goji. If transferring into a platform which has a flexible ISA but not enough loans to absorb the amount you want to transfer it is easier to transfer the lot then withdraw and later re-invest, rather than transfer in chunks as loans become available. Obvious really, but something I originally missed with LLI. I had thought flexibility was only current years subs - are you saying that you can transfer a previous years subs, withdraw and then reinvest without losing the ISA wrapping?
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mikeh
Member of DD Central
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Post by mikeh on Jun 29, 2017 10:15:52 GMT
I think it is even more important to diversify within an ISA because any defaults will not be deductable for tax. I am reserving my current year allowance for now, waiting for MT and possibly (if it would be legal) a plain wrapper site that allowed me to invest where I want just like now. Chunks of previous years allowances have gone into LandLordInvest, PropLend and Goji. If transferring into a platform which has a flexible ISA but not enough loans to absorb the amount you want to transfer it is easier to transfer the lot then withdraw and later re-invest, rather than transfer in chunks as loans become available. Obvious really, but something I originally missed with LLI. I had thought flexibility was only current years subs - are you saying that you can transfer a previous years subs, withdraw and then reinvest without losing the ISA wrapping? Yes flexibility applies to all ISA money. You just have to replace it in the tax year you withdraw it. Of course the account you withdraw it from has to be a flexible one.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,331
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Post by ilmoro on Jun 29, 2017 10:22:30 GMT
I think it is even more important to diversify within an ISA because any defaults will not be deductable for tax. I am reserving my current year allowance for now, waiting for MT and possibly (if it would be legal) a plain wrapper site that allowed me to invest where I want just like now. Chunks of previous years allowances have gone into LandLordInvest, PropLend and Goji. If transferring into a platform which has a flexible ISA but not enough loans to absorb the amount you want to transfer it is easier to transfer the lot then withdraw and later re-invest, rather than transfer in chunks as loans become available. Obvious really, but something I originally missed with LLI. I had thought flexibility was only current years subs - are you saying that you can transfer a previous years subs, withdraw and then reinvest without losing the ISA wrapping? Yes. If its a flexible ISA doesnt matter when the money was invested originally into an ISA it can be taken out and returned within the tax year. If you have a flexible ISA containing both previous and current year subscriptions, withdrawals are deemed to be current year subscriptions first, then previous year, with deposits deemed previous year, then current. You can even withdraw current year subscriptions and replace them in a different type of current year ISA, though any interest earnt on current year money and withdrawn can only be returned to the ISA where it was earnt. www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&ved=0ahUKEwjPkNPN6eLUAhVBAcAKHYl2AKkQFgg4MAE&url=https%3A%2F%2Fwww.gov.uk%2Fgovernment%2Fuploads%2Fsystem%2Fuploads%2Fattachment_data%2Ffile%2F492643%2FISA_Guidance_Notes.pdf&usg=AFQjCNGEUhyayZ_TGD47L2NWPsYQGlN_7w&cad=rjaIve moved & then withdrawn previous year to LLI, sending back as loans appear, and to Ford Money, where I return it and then move it into the Regular Saver ISA each month (multiple product under one ISA wrapper ... even better) crossed with mikeh
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n
Member of DD Central
Yet another Nick
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Post by n on Jun 29, 2017 10:39:12 GMT
I think it is even more important to diversify within an ISA because any defaults will not be deductable for tax. I am reserving my current year allowance for now, waiting for MT and possibly (if it would be legal) a plain wrapper site that allowed me to invest where I want just like now. Chunks of previous years allowances have gone into LandLordInvest, PropLend and Goji. If transferring into a platform which has a flexible ISA but not enough loans to absorb the amount you want to transfer it is easier to transfer the lot then withdraw and later re-invest, rather than transfer in chunks as loans become available. Obvious really, but something I originally missed with LLI. I had thought flexibility was only current years subs - are you saying that you can transfer a previous years subs, withdraw and then reinvest without losing the ISA wrapping? Just to be clear, I think I am correct in saying that the interest earned on money withdrawn from a flexible ISA into a non-ISA account and invested from there is taxable (ie outside the wrapper). I would be delighted if I am wrong. The benefit is that the money can be re-wrapped within the tax year (and that money can come from anywhere).
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nick
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Post by nick on Jun 29, 2017 11:52:00 GMT
I had thought flexibility was only current years subs - are you saying that you can transfer a previous years subs, withdraw and then reinvest without losing the ISA wrapping? Just to be clear, I think I am correct in saying that the interest earned on money withdrawn from a flexible ISA into a non-ISA account and invested from there is taxable (ie outside the wrapper). I would be delighted if I am wrong. The benefit is that the money can be re-wrapped within the tax year (and that money can come from anywhere). Yes - if the return was generated outside the wrapper in a non-ISA account, it will be taxable. The primary benefit of flexible ISAs is that they help to preserve ISA allowances by allowing you to utilise funds elsewhere (which will be taxed if outside the wrapper) for a period during the tax year providing you replace the funds by the end of the tax year. For the past couple of years, I've been utilising my ISA allowance by setting up cash ISAs but only holding cash in them on 5 April and withdrawing it next day to invest in P2P and other non-ISA products. My intention is that I will use these and all my prior year ISA allowances in P2P over the current year by refunding the cash ISAs and transferring across.
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Post by proplend on Jun 29, 2017 11:53:03 GMT
I had thought flexibility was only current years subs - are you saying that you can transfer a previous years subs, withdraw and then reinvest without losing the ISA wrapping? Just to be clear, I think I am correct in saying that the interest earned on money withdrawn from a flexible ISA into a non-ISA account and invested from there is taxable (ie outside the wrapper). I would be delighted if I am wrong. The benefit is that the money can be re-wrapped within the tax year (and that money can come from anywhere). Absolutely right Nick. Richard
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Post by eascogo on Jun 29, 2017 11:53:22 GMT
Currently don't have any IFISAs. I have more money on MT than all the other platforms combined (*) so it makes sense that my IFISA money is allocated here. The only other platform currently under consideration Is ABL. (*) I realise too many eggs in one basket isn't that wise. When some other baskets have developed holes the eggs are in danger of breaking. I agree, MT best platform by far at the moment. Have all available cash there with only broken eggs left at FS. I will to diversify by moving a portion in an S&S ISA (likely with Fundsmith or possibly Vanguard).
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IFISAcava
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Post by IFISAcava on Jun 29, 2017 12:53:41 GMT
Thanks for clarifying the flexible status. Looks like I could have been more proactive with some of my IFISA dead money!
Now to work out which are flexible...
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