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Detail of outcome
The response to the consultation on whether to include investment based crowdfunding in ISAs summarises the comments received and sets out the government’s decisions on how to proceed. This includes the decision to extend the list of qualifying investments for the new Innovative Finance ISA to include debt securities offered via a crowdfunding platform and a commitment to work with the sector to continue to explore the case for including equity based crowdfunding.
Draft legislation setting out the government’s approach for implementing this change will be published for consultation following technical discussions with interested parties, with a view to legislating to allow crowdfunded debt securities to be held in an Innovative Finance ISA from autumn 2016.
This consultation seeks views on whether to extend the list of ISA qualifying investments to debt securities and equity offered via crowdfunding platforms. The government proposes to assess the case for extending ISAs in this way against a number of core principles that are set out in the consultation document.
The government would particularly welcome views from any individual, business or representative body with an interest in investment based crowdfunding and ISAs. The views expressed will inform the government’s decision over whether to proceed with this change to the list of ISA qualifying investments.