Innovative Finance ISA (“IFISA”)

Clients are able to hold Advancr Bonds in the new IFISA, allowing them to benefit from tax free income.

Advancr Bonds can be held in our IFISA. The Annual ISA allowance can be invested or existing ISA balances can be transferred into the Advancr IFISA.

Every UK resident over the age of 18 is entitled to a tax-exempt individual savings account (ISA). The annual allowance is £20,000 for the 2018/19 tax year (ending 5th April 2019).

Your annual ISA allowance can be dedicated to any one, or spread across all three of the ISA categories: Cash ISAs, Stocks & Shares ISAs and Innovative Finance ISAs.

The IFISA was launched on 6th April 2016. This new class of ISA allows individuals to invest into debentures such as Advancr Bonds, receiving all interest earned tax-free.

Furthermore, investors are able to transfer multiple years’ worth of savings from existing ISA balances into the Advancr IFISA.

It is important to be aware that investors can only subscribe to one IFISA per tax year. This means that if an investor decides to invest a portion or all of this tax year’s ISA allowance into an IFISA, they would only be able to do so with one IFISA manager, such as Triple Point.

However, transfers of ISA balances which were subscribed to in previous tax years are not counted as new subscriptions and can be invested into multiple IFISAs.

How do I open an Advancr IFISA?

Investors open their IFISA simply by applying online at www.advancr.com. Investors are then able to select the Advancr Bonds they wish to hold within their IFISA.

How do I transfer funds from an existing Cash ISA or Stocks and Shares ISA?

If investors wish to transfer the cash balance from their existing cash or stocks and shares ISAs to their Advancr IFISA, they will be required to complete and sign a transfer form, before returning it by email to customerservices@advancr.com. Please contact us for a copy of the form. The transfer of stocks and shares ISAs will require the investor to convert their portfolio into cash prior to transferring. The interest rate received is in accordance with the series of Advancr Bonds offered at that date. Details of those rates and any applicable final terms can be found in the Base Prospectus and the documents section.

We will contact your existing ISA Manager to arrange the transfer on your behalf.

For information on Self-Invested Personal Pension (“SIPP”) please email: customerservices@advancr.com