HM Treasury has published the results of its consultation on whether to include investment based crowdfunding in ISAs. The response to the consultation summarises the comments received and sets out the government’s decisions on how to proceed. This includes the decision to extend the list of qualifying investments for the new Innovative Finance ISA to include debt securities offered via a crowdfunding platform and a commitment to work with the sector to continue to explore the case for including equity based crowdfunding.
Draft legislation setting out the government’s approach for implementing this change will be published for consultation following technical discussions with interested parties, with a view to legislating to allow crowdfunded debt securities to be held in an Innovative Finance ISA from autumn 2016.
The Treasury’s statement and the full report can be found here.