Cookies are temporary files we place on your device to improve your user experience, for example to sign up and log in to your account. Find out more about cookies, and how to control them, in our privacy policy. By continuing to use our site, you agree to this policy Close image

The UKCFA has a bone to pick…


..And it is giving some of us aspiring crowdlending platforms a little indigestion…

The UK Crowdfunding Association (UKCFA) has been in touch with the British Business Bank (BBB) to ensure that it doesn’t just lend to the larger platforms. And the sector at large is campaigning for a preferred lender scheme, enabling borrowers to choose any BBB approved-lender as opposed to a large platform such as Funding Circle.

Meanwhile, 2015 continues to unfold as an exciting year for all those concerned with the UK Crowdfunding sector, including investors and borrowers alike. The latest news to come out of the UKCFA Feb meeting was both diverse and interesting. Matters included:

  • Withholding tax – plan is to create a whitepaper to submit to the Treasury.
  • ISA – loan based notification in March; there is a collective voice for the development of a third ISA product. Grant Thornton is going to run a survey to better understand demand for such a product.
  • Bad debts – the UKCFA highlights that losses can be spread across loans from different platforms.

That’s all folks!

Hopefully those bone-pickings will transpire to be rich-pickings next time!

LendingCrowd

Article author

Avatar

Andy Moore

Leave a Reply

Your email address will not be published. Required fields are marked *

If you invest through LendingCrowd you should understand that your capital is at risk.

LendingCrowd is the trading name of Edinburgh Alternative Finance Limited, Company Number SC468392, authorised and regulated by the Financial Conduct Authority (Firm reference number 670991). LendingCrowd and its products are not covered by the Financial Services Compensation Scheme.

Read more about the risk involved when investing and borrowing.

The company's registered office is 23 Manor Place, Edinburgh, EH3 7DX.

Copyright © LendingCrowd 2019. All rights reserved.

Best P2P Business Lender NACFB
Mobile Analytics Comodo