Estimated reading time: 2 min

Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be very complex and high risk.

What are the key risks?

1. You could lose all the money you invest

  • If the business issuing the bonds you invest in through this Service fails, there is a high risk that you will lose all your money. Businesses like this often fail as they usually use risky investment strategies.
  • Advertised rates of return aren’t guaranteed. This is not a savings account. If the issuer doesn’t pay as agreed, you could earn less money than expected or nothing at all. Generally, a higher advertised rate of return means a higher risk of losing your money. If it looks too good to be true, it probably is.
  • These investments are sometimes held in an Innovative Finance ISA (IFISA). While any potential gains from your investment will be tax free, you can still lose all your money. An IFISA does not reduce the risk of the investment or protect you from losses.

2. You are unlikely to be protected if something goes wrong

  • [Protection from the Financial Services Compensation Scheme (FSCS), in relation to claims against failed regulated firms, does not cover poor investment performance. Try the FSCS investment protection checker here.
  • [Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated firm, FOS may be able to consider it]. Learn more about FOS protection here.

3. You are unlikely to get your money back quickly

  • The companies that receive loan monies could face cash-flow problems that delay interest payments. If this occurred en masse, it could impact the ability of the Service to repay investors their money.
  • You are unlikely to be able to cash in your investment early by selling it. You are usually locked in during the period agreed. In the rare circumstances where it is possible to sell your investment in a ‘secondary market’, you may not find a buyer at the price you are willing to sell.

4. This is a complex investment

  • This investment has a complex structure based on other risky investments. A business that lends to, or invests in, other businesses or property can make it difficult for the investor to know where their money is going.
  • This makes it difficult to predict how risky the investment is, but it will most likely be high.
  • You may wish to get financial advice before deciding to invest.

5. Don’t put all your eggs in one basket

  • Putting all your money into a single business or type of investment for example, is risky. Spreading your money across different investments makes you less dependent on any one to do well.
  • A good rule of thumb is not to invest more than 10% of your money in high-risk investments.

If you are interested in learning more about how to protect yourself, visit the FCA’s website here.

For further information about minibonds, visit the FCA’s website here.

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Triple Point Income Service

Don’t invest unless you’re prepared to lose all the money you invest. This is a high risk investment. Take 2 mins to learn more.
Invest up to £20,000 tax free per year or transfer your existing ISA.
OverviewTransfersISA FAQs

What is an Innovative Finance ISA?

Saving with an ISA is an excellent way to protect your money from tax, and compound returns over time. You can transfer some or all of your ISA capital from previous tax years, as well as investing the ISA allowance for the current tax year- currently £20,000.

Your annual allowance can be dedicated to anyone, or spread across all four of the ISA categories:

Cash ISAs, Stock & Shares ISAs, Lifetime ISAs, and Innovative Finance ISAs

The Innovative Finance ISA (IFISA), launched on 6th April 2016, is the only ISA Triple Point offers.

This new class of ISA allows individuals to invest in debentures and receive all interest tax-free.

Setting up your IFISA is as easy as 1, 2, 3

Diagram Diagram Get started

Transfers

You can transfer any exisiting funds you have with another ISA manager.

If you are transferring ISA subscriptions made in previous tax years, this will not affect your ISA allowance for the current tax year and you can transfer however much of it you like from as many ISA managers as you like.

If you have made ISA subscriptions in the current tax year, you can still transfer these funds to an Advancr ISA, however they must be transferred in their entirety.

Complete this form, print, sign and post to our office to arrange transfer of your existing ISA.

The transfer process

Transfer Process Illustration Transfer Process Illustration Transfer Process Illustration

Colour key

Customer
Triple Point Advancr
Old ISA Manager

Total timeframe for a transfer

from aStocks & Shares ISA:
30 working days
from aCash ISA:
15 working days

IFISA Frequently Asked Questions:

What is an Innovative Finance ISA?

The Innovative Finance ISA (IFISA) was launched on 6th April 2016 and is a new class of ISA that allows individuals to invest into debentures, and receive all interest tax-free.

Who can open an IFISA?

You can open an IFISA if you are a UK resident and aged 18 or older.

Why do you need my National Insurance number?

The National Insurance number is a requirement from HMRC to enable them to monitor who has used their ISA allowance for each taxable year.

As an ISA Manager, Triple Point is responsible for ensuring you do not exceed the annual allowance of the ISA that you hold with us. However, we are not responsible for, nor are we aware of, investments you have made with other ISA providers.

What is my ISA allowance for this tax year?

The ISA annual allowance for the 2022/23 tax year is £20,000.00. This is the maximum amount of new money you can contribute to a single ISA or across multiple ISAs between April 6th 2022 and April 5th 2023.

Can I have multiple Innovative Finance ISAs?

You can only make subscriptions to one of each ISA type per tax year. There are currently four types of ISA:

  • Innovative Finance ISA (IFISA)
  • Stocks and shares ISA
  • Cash ISA
  • Lifetime ISA (LISA)

This means you can only subscribe to one IFISA in a given tax year. In the event that you have already subscribed to an IFISA in the current tax year but have found another IFISA provider you wish to subscribe to, you can transfer your existing subscription in full to the new provider.

Once you have entered a new tax year, you can open an IFISA with another provider.

Additionally, any ISA subscriptions made in previous tax years can be transferred to other ISA providers across all four categories.

How many ISAs can I hold and subscribe to in one tax year?

You can open one of each type of ISA per tax year. This means in a single tax year you can subscribe to:

  • 1 x Innovative Finance ISA (IFISA)
  • 1 x Stocks and shares ISA
  • 1 x Cash ISA
  • 1x Lifetime ISA (LISA)

You can hold any combination of these ISAs as long as the overall subscriptions for the tax year does not exceed the current ISA allowance of £20,000.00 (including no more than £4,000.00 in the LISA)

ISA subscriptions from previous tax years do not have these restrictions and can be transferred into as many ISAs as you wish.

What will happen if I try to subscribe more than the annual allowance in my IFISA?

If you try to transfer more than £20,000 of new funds into your Triple Point IFISA, a member of customer services team will be in touch to advise that you have gone above your ISA allowance and discuss your options.

How do I send money to my Triple Point IFISA?

You can fund your IFISA via a bank transfer or ISA transfer or cheque.

What happens if I withdraw funds from my Triple Point IFISA?

The Triple Point IFISA is a non-flexible ISA. This means that if you withdraw funds from your ISA it does not reduce the amount you have invested that current tax year, which is the case with a flexible ISA.

For example, if you have invested your entire annual allowance of £20,000 for the current tax year, and you choose to withdraw any or all of these funds, you cannot reinvest that amount until the new tax year.

The interest paid out by your investments will be available in your ISA account for you to reinvest or withdraw or transfer  to another ISA, as you wish.

Please note that any funds withdrawn are no longer held in the ISA tax wrapper.

Do I need to declare my ISA earnings to HMRC?

As the ISA Manager, Triple Point is responsible for declaring any ISA interest, income or capital gains, so that you don't have to.

How long will it take to transfer an existing ISA to a Triple Point IFISA?

Once we are in receipt of a signed ISA transfer form, we will contact your old ISA manager to instruct them to begin the transfer process.

We will aim to invest your funds on the same day that they clear in the Client Account. In the majority of cases, ISA funds are transferred via cheque and may take up to 6 working days to clear in the Client Account.

This whole process is usually complete within 15 working days for Cash ISAs and 30 working days for Stocks and Share ISAs.

Is there a limit to how many ISAs from previous years I can transfer to an IFISA?

ISAs subscribed to in previous tax years hold no transfer restrictions - you can transfer, in full or in part, as many ISAs of as many types as you like to an IFISA.

What if I want to transfer my Triple Point IFISA to another ISA provider? How long does this take?

You are free to transfer ISAs between ISA providers as often as you like. There are a number of points to consider when doing so.

If your Triple Point IFISA funds are invested in an investment, such as a debenture, you will ordinarily have to wait until the term of the investment is finished before transferring the funds to an alternative provider. In your dashboard, your 'Cash Balance' is the amount not currently invested and is available to transfer at that moment in time.

Previous years ISA subscriptions can be transferred in full or partially to an alternative provider. When transferring you must specify how much you wish to transfer, however, this amount cannot exceed the cash balance of your IFISA account.

While HMRC does not provide any timescales for IFISA providers to complete transfers, we will endeavour to complete your transfer request as quickly as possible and within 15 working days, assuming your funds are available.

Why does the ISA transfer form have to be posted and why can it not be authorised and completed online?

While we want to make the investment process as quick and easy as possible, the large majority of ISA managers still require a 'wet signature' in order to initiate the ISA transfer process. This means forms need to be manually signed and supplied in their original format before a transfer can proceed.

I have opened an IFISA with another provider and subscribed to it in this tax year. What can I do if I want to open a Triple Point IFISA also?

If you have subscribed to an alternative IFISA provider you have two options in order to make an investment into the Triple Point Income Service with an IFISA:

  1. Utilise ISA subscriptions from previous tax years to fund your investment - it does not matter if this sits in an Innovative Finance, Cash or Stocks & Shares ISA.
  2. You can transfer the IFISA with the current year’s subscription to a Triple Point IFISA, in full. Partial transfers of current year subscriptions are not permitted and as such, the full balance of subscriptions for this year will be transferred from your existing ISA provider.