Here is an interesting document that recently popped up. HM Revenue & Customs Guidance Notes for ISA Managers: Draft Crowdfunding. According to the document, “this version of the ISA Guidance Notes for Managers provides guidance on the rules to be applied from 1 November 2016, and in particular incorporates guidance on debentures offered by crowdfunding platforms to be eligible for inclusion within an ISA”.
The Innovative Finance ISA already accepts peer to peer lending assets and HMRC launched a consultation last year reviewing debt securities offered on crowdfunding platforms as well as equity (which was concluded). This document only adds notes on “crowdfunding debentures”.
See the draft document below.
[scribd id=330525144 key=key-mE5kjSBQIwpvfWuVu37V mode=scroll]