Consultation outcome

ISA qualifying investments: consultation on including peer-to-peer loans

This consultation has concluded

Download the full outcome

Detail of outcome

The consultation response document summarises the comments received on the consultation on including peer-to-peer loans in ISAs and the government’s decisions regarding policy design and implementation. This includes the decision to introduce a new type of ISA for peer-to-peer loans – the Innovative Finance ISA – alongside cash ISAs and stocks and shares ISAs.

Further details of the policy design are set out in the government’s response to the consultation. The government intends to publish draft legislation for technical consultation later this year, with a view to legislating to allow peer-to-peer loans to be held in an ISA from 6 April 2016.

Original consultation

This consultation ran from to


Seeking views on how to implement changes to Individual Savings Accounts (ISAs) to allow peer-to-peer loans to be held within them.


Consultation description

The government is interested in the best way to implement the inclusion of peer-to-peer loans within Individual Savings Accounts (ISAs). The consultation proposes that peer-to-peer loans comply with existing ISA rules unless there are compelling arguments to adapt the rules. In such cases alternative options and their relative merits are discussed.

The government would welcome views from any individual, business or representative body with an interest in peer-to-peer loans and ISAs.

The government will take all responses received during the consultation period into account before deciding how to implement including peer-to-peer loans into ISAs. Details of the next steps will be available in due course.