The Kuflink Peer to Peer Investor Blog

Publish at: 2022-04-01 15:46:20

Guide to ISA Transfers

The Innovative Finance ISA (IFISA) is attracting the attention of savers looking to get high-interest rates from peer to peer lending while protecting their returns from the tax.    

IFISA provides you with an opportunity to invest all your annual ISA allowance (£20,000) in P2P loans to individuals and businesses and earn interest within a tax-free wrapper. If you want to take advantage of IFISA but already have savings in other types of ISAs, here are a few things you should know about transfers.   

How do IFISA Transfers work?                 

Only Cash Transfers Allowed

You can only transfer cash to IFISA. For example, if you have peer to peer loans and want to transfer them to an IFISA, HMRC rules do not allow you to transfer them directly. Instead, you have to sell them and then transfer the cash.  

Transfer within the same provider or choose a new one

Similarly, if you have stocks and shares ISA, you have to convert your holdings into cash by selling them. Although cash ISA transfers are straightforward, they can be a lengthy process. The transfer can be with the same provider, or you can also transfer your existing IFISA to another provider. 

Don't forget to learn about the transfer fees.

Always check whether your provider allows partial transfers if you do not want to transfer your whole investment, as not all providers do. Remember to check the fees you may have to pay for transferring in or out.  

Want more than one IFISA account?

  • You can have more than one IFISA account, but new contributions must all go in the same one per tax year. 
  • If you are not earning expected returns from other ISAs, you can transfer them to an IFISA and let your money work harder for you. 
  • You can transfer money from Cash ISA, stocks and shares ISA and your previous years' IFISAs into any number of IFISAs. As you are using your previous year's allowance, the limit of £20,000 does not apply here, and you can transfer as much as you want. 
  • However, if you want to make new contributions in a single tax year, you cannot invest in more than one IFISA, and the limit of £20,000 applies here. 
  • You can spread your allowance across different ISAs but can not invest more than £20,000. 

The tax year is going to end on the 5th of April, so be quick and think about how you can invest your annual allowance to make the best returns out of it.                   

How can you transfer into Kuflink's IFISA?

Important Information To Get Started

1. Have your NI number handy and read through our terms

First, you have to read and agree to our IFISA declaration and provide us with your National Insurance Number as per Government requirements. 

2. Download, complete and sign your transfer form

Once you are satisfied that your details are correct, sign and date your transfer authority form. Please keep in mind that any wrong information or errors can cause a delay in the transfer. 

3. Post the signed form to us

Once you post your signed form, we will handle the process from here and let you know once the transfer is complete. 

Which ISAs can you transfer?

You can transfer cash ISA, stocks and shares ISAs and even IFISAs you have with any other provider. Your previous year's transfers do not count in the annual allowance, so there is no limit on how much you can transfer. However, the current year's transfer counts towards ISA allowance, and you can not exceed the limit, i.e. £20,000.  

Once your existing provider has received your completed Transfer Authority Form, they'll have 30 days to transfer your ISA to Kuflink. We will credit your account on the same day we receive cleared funds and a completed Transfer History Form.

Transfer your ISA into Kuflink

  • Kuflink Innovative Finance ISA (IF-ISA) - up to 7.0%* gross per annum Tax-free
  • Earn up to 7%* gross per annum Tax-free in the Auto IF-ISA Pool.
  • Earn up to 7.44%* gross per annum Tax-free in Select Invest IF-ISA.
  • Transfer All your Previous / Current Cash ISA, Stock & Shares ISA, Lifetime ISA or IF-ISA.*
  • Interest can be paid Annually or compounded to maturity
  • Diversify your funds across multiple loans secured on property*.
  • Blended LTV & LTGDV circa 63%
  • Security is 1st or 2nd Charge on UK Properties*
  • Over £10m in ISA Transfers into Kuflink from Major ISA Providers

Learn More


*Capital is at risk and Kuflink is not protected by the FSCS. Past returns should not be used as a guide to future performance. Securing investments against UK property does not guarantee that your investments will be repaid and returns may be delayed. Tax rules apply to IF ISAs and SIPPs. Tax treatment depends on the individual circumstances of each client and may be subject to change in future. Kuflink does not offer any financial or tax advice in relation to the investment opportunities that it promotes. Please read our risk statement for full details.

Expert Star Rating

Rating-Year-5-Colour-CMYK-1 Group 23433 DAS Ukas ISO-IEC 27001-1