HMRC wrapper passport
ISA Managers Guidance IFISA P2P WRAP
#2/5 · £20,000 · loan term
According to gov.uk Individual Savings Accounts guidance and HMRC ISA Manager Guidance Notes (2026/27 tax year). See methodology for full sourcing.
- LOAN term-bound
- CAP 100%
- BOOK 5 wraps
- PHOTO Cash
Nearest allowance peer: Cash (£20,000)
According to PlainISA's HMRC ISA wrappers corpus, Innovative Finance ISA ranks #2 of 5 HMRC ISA wrappers by annual subscription allowance (highest GBP = #1) and #3 of 5 by HMRC government bonus value (highest bonus_cap_gbp, £0 when none = #1). This wrapper uses 100% of the £20,000 combined adult allowance. Best fit: Sophisticated investors, small allocation. Not ideal for: Capital preservation. How we place wrappers → · Verify with HMRC →
IFISA in the allowance neighbourhood
Annual subscription limit among this wrapper and nearest nationwide peers
Rules at a glance
| Attribute | Innovative Finance ISA | Source |
|---|---|---|
| Annual allowance | £20,000 | gov.uk ISAs |
| Government bonus | None | HMRC ISA Manual |
| Age eligibility | 18+ | HMRC ISA Manager Guidance |
| Risk band | high | FCA Conduct of Business |
| Typical return | 6.5% | P2P 2018-2024 median |
| FSCS protection | Not FSCS protected, capital at risk | FSCS |
| Withdrawal rules | Subject to underlying loan term. | HMRC ISA Manual |
| Transfer rules | Permitted between IFISA providers. | HMRC ISA Manual |
| Tax treatment | Interest, dividends, capital gains exempt from UK Income Tax and CGT | Income Tax Act 2007 s.694 |
Table sources: gov.uk Individual Savings Accounts, HMRC ISA Managers Guidance Notes, Income Tax Act 2007 s.694.
Full-cap peers beside Innovative Finance ISA
Innovative Finance ISA sits outside FSCS deposit protection at allowance rank #2/5. Peer sets below isolate limit neighbours from bonus-cap neighbours.
Similar annual allowance
Nearest wrappers by £20,000 subscription limit.
Similar HMRC bonus cap
Nearest wrappers by government bonus cap value (no HMRC bonus here).
Peers are nearest-neighbor matches across all 5 HMRC ISA wrappers in this database; corpus ranks above sort the full set.
Not financial advice - methodology · compare wrappers · HMRC source.