RateSetter to launch its IFIsa this tax year

RateSetter is planning to apply to HMRC for Isa manager status to enable it to launch its Innovative Finance Isa (IFIsa).

The peer-to-peer lending platform aims to launch the product before the end of the current tax year.

Earlier this week, RateSetter announced that it had received full regulatory authorisation by the FCA.

The platform said it would keep its lenders updated on the progress of its Isa via its website and through its mailing list.

During the last tax year, 2,000 IFIsas were opened.

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