Peer-to-peer lending to be allowed in ISAs - reports

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Savers will be able to shelter any returns from peer-to-peer lending activities in a tax-free individual savings account (ISA), according to reports.

Chancellor George Osborne is expected to launch a consultation on allowing peer-to-peer or crowdfunding websites into ISAs when he presents his Autumn Statement on 5 December, The Telegraph reports.  Peer-to-peer lending is a way for small business, organisations and individuals to raise capital in order to grow. Typically, it involves a number of people pooling money through a website, often called a platform. As it stands, investors who use peer-to-peer (P2P) websites such as Zopa, RateSetter or Funding Circle have to include any interest earned on their self-assessment tax returns ...

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