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Zopa ISA Status Update

Posted on 31 Mar 2016 by Andrew Lawson

We would like to update you on the expected launch date of the Zopa ISA.

In September 2015, we submitted our application for full authorisation to the FCA and have been working closely with them to progress our application. We will only be able to offer the Innovative Finance ISA after we have gained full authorisation.

Given the volume of P2P platforms requesting authorisation and a number of recent legislation changes, the majority of P2P platforms, including Zopa, will not complete the process before April 6th.

We are working with the FCA to be fully approved and ready to launch ISAs in the next few months. We’ll let you know as soon as we have further news around the date of our ISA launch.

Whilst we know that this delay is disappointing, the good news for lenders is that from April 6th this year you will be able to earn tax-free interest of up to £1000 on your P2P investments as part of the Personal Savings Allowance depending on your income tax level.

Category: Lending
Tags: innovative finance isa

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