Innovative Finance ISA Information Hub
How the ISA allowance works
Each tax year, the Government sets the annual subscription allowance for ISAs.
For the 2016/17 tax year you can invest a maximum of £15,240 in a LendingCrowd Innovative Finance ISA. This is changing for the 2017/18 tax year and you will then be able to subscribe up to £20,000 in ISAs.
If you do not use your ISA allowance during the current tax year, it cannot be rolled over into the following tax year.
You have the freedom to use this annual ISA allowance across more than one kind of ISA in each tax year. As long as you do not exceed your annual allowance, you could subscribe to a Cash ISA, a Stocks & Shares ISA and an Innovative Finance ISA in the same tax year.
However, you can only invest in one ISA in each category each year. For example, if you invest in a LendingCrowd Innovative Finance ISA in 2016/17, you can not subscribe to another Innovative Finance ISA until 2017/18. This restriction only applies to new ISA funds. Provided your new ISA manager accepts transfers in, you can transfer ISAs opened in previous years.
If you have any questions about your ISA subscription allowance contact our ISA team by calling 0345 564 1600 or emailing firstname.lastname@example.org
Withdrawals: How this impacts your ISA allowance
It is also important to know how your ISA allowance can be impacted by withdrawals.
For non-Flexible ISAs your ISA allowance for the tax year cannot be recovered once it is used up.
However, Flexible ISAs – such as the LendingCrowd Innovative Finance ISA – allow you to reinvest capital after withdrawals have been made.
For example, if you have £15,240 in a LendingCrowd Innovative Finance ISA and you decided to withdraw £5,000 you could still reinvest up to that amount in the same tax year.