We had heard whispers of this... Her Majesty's Treasury has announced that as of July 1st, 2014 peer-to-peer lending is being given tax discounts for the first time in UK history. The radical reformation will take place within the Individual Savings Account (ISA) system.

The annual investment allowance limit has been raised from £5,760 (cash ISA) and £11,420 (stocks and shares ISA) to £15,000 in the form of cash ISA, without lenders having to pay tax on their capital gains. This scheme will be known as the New ISA (NISA).

Time to start a UK based P2P site?