Frequently asked questions for the Innovative Finance ISA

We've put together a list of frequently asked questions, along with answers to help you make the most out of your LandlordInvest ISA account.

What is an Innovative Finance ISA?

The Innovative Finance ISA (IFISA) is a tax-free ‘wrapper’ for peer-to-peer lending that became available 6 April 2016.


How much can I invest in the Innovative Finance ISA?

You can invest up to £20,000 into a LandlordInvest Innovative Finance ISA in the current tax year (2018/19).


Is there a minimum investment for the Innovative Finance ISA?

The minimum investment is £100.


Do I need to report my Innovative Finance ISA earnings on my tax return?

No. As your ISA Manager, we will report your ISA holdings to HMRC on your behalf. However, there is no tax payable on interest earnt from your LandlordInvest Innovative Finance ISA.


What if I put too much money into the Innovative Finance ISA?

If you deposit over £20,000 into this year’s IFISA, the surplus funds will automatically be deposited into your LandlordInvest Standard account. If LandlordInvest is informed by HMRC that you have over £20,000 across all ISA accounts, we will contact you and find out how you would like to repair your ISA situation.


Does it cost anything to open an Innovative Finance ISA?

No. Opening an Innovative Finance ISA account with us is entirely free of charge.


Are there any other Innovative Finance ISA fees?

No. There are no other Innovative Finance ISA fees.


How can I set up an Innovative Finance ISA account?

Log in to, or register for a LandlordInvest Standard account, click on the Innovative Finance ISA link and complete the ISA application page. Once complete you can deposit funds using a bank transfer and invest in available loans.


What information will I need to provide to set up an Innovative Finance ISA account?

When you set up your LandlordInvest Standard account, we conduct full Know Your Customer (KYC) and Anti‐Money Laundering (AML) checks to validate your identity and address. In addition to this process, to set up an ISA you will need to provide your National Insurance number which is used by LandlordInvest for HMRC reporting.


Am I eligible for opening an Innovative Finance ISA?

You must be at least 18 years old and be a UK resident with a UK bank account to open an Innovative Finance ISA.


How do I transfer my Cash ISA or Stocks and Shares ISA?

If you wish to transfer your cash ISA or stocks and shares ISA to LandlordInvest then you need to complete the Transfer Authority form. The form can be downloaded from here or obtained by emailing ifisa@landlordinvest.com, asking for the form. Once the completed Transfer Authority form is received and approved, we will liaise with your previous ISA manager to transfer a Cash or Stock & Shares ISA to us. In case you change your mind, you will get 14 days cancellation rights. We do not charge you any fee for transferring an ISA to us, but our existing ISA manager might do.


Can I transfer previous years of savings from my Cash or Stocks and Shares ISA?

If you have multiple years worth of savings within your ISA you are able to transfer these and continue earning tax free on LandlordInvest.

Is your ISA flexible?

Yes, LandlordInvest’s property-backed IFISA is flexible. This means that you can replace, in whole or in part, cash you have withdrawn, without the replacement counting towards your subscription limit for a tax year. According to ISA regulations:

  • withdrawals are deemed to be firstly of subscriptions for the current tax year and secondly of subscriptions for previous tax years: and
  • replacements are deemed to be firstly of subscriptions for previous tax years and secondly of subscriptions for the current tax year.

The rules on flexible ISA are complex and you should take independent advice or consult the HMRC helpline if you are in any doubt as to the extent to which you can withdraw and replace funds across different ISAs.

You may reach HMRC’s helpline on this phone number: 0300 200 3312.

The Helpline is open from 8.00am to 8.00pm Monday to Friday; and 8.00am to 4.00pm on Saturdays and Bank Holidays.

You may also find further ISA guidance on GOV.UK.

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