Risk warning: Don't invest unless you're prepared to lose all the money you invest. Peer-to-peer lending is a high-risk investment and is not covered by the Financial Services Compensation Scheme (FSCS). You are unlikely to be protected if something goes wrong. Take 2 minutes to learn more.

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Guides

ISA guides

Everything you need to understand ISAs: what the different types are, how they compare, and how to actually use them. We always lead with the risks.

Last reviewed May 2026 · by Gareth Hoyle

Understand ISAs

Types of ISA explained

The five main types of ISA, how each works, who they suit and how they compare.

The £20,000 ISA allowance

How the annual ISA allowance works, splitting it across ISA types, and the rules that catch people out.

Compare your options

P2P ISA vs cash ISA

How an IFISA compares with a cash ISA on returns, risk, access and protection. Capital at risk vs FSCS-protected savings.

P2P ISA vs S&S ISA

Two higher-risk, tax-free options compared: lending vs market investing, returns, risk and access.

Cash ISA vs S&S ISA

The classic decision: guaranteed-rate savings vs investing for growth. How to choose, and why not both.

P2P ISA vs Lifetime ISA

Very different goals: P2P income vs the LISA's 25% government bonus for a first home or retirement.

How-to guides

How to transfer an ISA

Step-by-step: how ISA transfers work, why you should never just withdraw, and how to avoid losing tax-free status.

How to open an IFISA

A step-by-step guide to opening an Innovative Finance ISA, what you'll need, and what to check first.

End-of-tax-year ISA checklist

What to do before 5 April to make the most of your ISA allowance before it's gone.

Risk & safety

Are IFISAs safe?

What 'safe' really means for an Innovative Finance ISA: capital at risk, no FSCS cover, and what does and doesn't protect you.

FSCS and peer-to-peer

Why P2P loans aren't FSCS-protected, the narrow situations where some protection can apply, and what it means for your money.

If a platform goes bust

Wind-down plans, segregated loans and trustees: what is meant to happen to your money if a P2P platform fails, and the limits of it.

Spotting a risky platform

Warning signs and due-diligence questions to weigh before trusting any P2P platform with your money.

Reference

IFISA & P2P glossary

Plain-English definitions of the Innovative Finance ISA and peer-to-peer lending terms you'll meet, from AER to wind-down plan.

IFISA & P2P statistics

Key figures on the UK ISA market and where Innovative Finance ISAs sit within it, with sources and dates.

Peer to peer ISA FAQs

Straight answers to the most common questions about Innovative Finance ISAs: tax, risk, transfers, allowances and access.

How we keep this honest

peertopeerisa.co.uk is independent. We provide general information and comparison only, not regulated financial advice. Peer-to-peer lending is a high-risk investment: your capital is at risk and your money is not FSCS protected. Some links are affiliate links, which never affect what we write.