An Innovative Finance ISA (IFISA) enables you to invest via the Downing Bond Platform and earn tax-free interest. Individuals who are over 18, UK residents, and hold a valid National Insurance Number are eligible to apply for an IFISA.

As of 6 April 2024, the new HMRC rules allow you to open and subscribe to any number of IFISAs in the same tax year. The ISA allowance for this tax year is £20,000, which you can invest in a Cash ISA, a Stocks and Shares ISA, an Innovative Finance ISA, or any combination of the three.

An IFISA does not reduce the risk of the investment or protect you from losses, so you can still lose all your money. It only means that any potential gains from your investment will be tax-free.