No, you can only have one IFISA per tax year. However, this does not preclude you from having a cash or stocks or shares ISA as well.
No. Due to the tax-free wrapper, you do not need to declare returns from your IFISA Bond on your tax return.
The UK government introduced the Innovative Finance ISA (IFISA) on 6th April 2016. The “IFISA” allows individuals to use some (or all) of their annual ISA investment allowance to lend funds through the growing marketplace lending market, while receiving tax-free interest and capital gains.
An Innovative Finance ISA, unlike a cash or stocks and shares ISA, allows you to invest in marketplace lending without paying tax on the subsequent returns. This is the main difference.
No. Your investment performance is not protected by any type of insurance. However, if we do not promote the bonds to you in accordance with FCA rules, any liability we owe you is covered by the Financial Services Compensation Scheme (FSCS) regime up to a maximum of £50,000 per investor. (You can read more about our FSCS coverage here.)
Yes. The FSCS covers the activities of authorised financial services firms such as B&G Finance Ltd. However, investors should be aware that the FSCS does not cover investment performance. Please see our FSCS page for more information on our FSCS coverage.
No, the Basset & Gold bonds are not government bonds. They are corporate bonds, issued by Basset & Gold Plc.
Swapping a bond means redeeming one bond and purchasing a new one. This action will require you to follow the redemption process.
The bond application window ends on the last working day of the month at 17:00. This allows for your investment to start earning interest the very next day without any investment lag. You can top up your bond during the same month. You can always apply for another bond the month afterwards. There are no costs involved in the process.
The money you are sending into your ISA account is used to purchase a Basset & Gold Bond. The bonds on offer for purchase through an ISA account are not redeemable (unless through the use of terminal illness redemption) but can be transferred to someone else. As there is no market for these kinds of bonds, you will be able to transfer them to someone else that you know and will be eligible for this investment.
Clients are able to withdraw whatever money from monthly interest payments is in their account at any time, while the capital cannot be accessed as it is being invested. If a customer needs to withdraw the capital invested in a Basset & Gold IFISA Bond before the bond reaches its term, they can do so by transferring the bond to another Basset & Gold IFISA Bond holder.
Yes, due to ISA regulations, you do have to be a UK citizen to invest in Basset & Gold’s Innovative Finance ISA.
Basset & Gold provides financing to UK lending platforms. The business typically charges between 8-15% p.a., and because there are no other middlemen or fees this structure is more cost effective and so we are able to pass on higher interest rates to our investors.
Our returns are not unusual for institutional investors, such as pension fund managers, which are managing everyday investors’ savings, and possibly yours as well. The founders of Basset & Gold observed that the profit requirements of institutions such as banks and pension fund managers often result in end investors receiving a return that is disproportionate to the risks they are taking. The financial technology revolution has enabled Basset & Gold to make cost reductions that it can pass on to investors in the form of higher returns through offerings such as the Basset & Gold Fixed Income Bonds. Bonds are different from pensions and banking products – for example, the pension tax benefits, banking capital requirements and government compensation arrangements associated with them do not apply to our bonds. Therefore, you do not have to bear the costs associated with those benefits.
Basset & Gold Plc. provides financing to UK marketplace lending platforms and direct loans. We typically charge between 8-15% p.a., and we pass on interest rates to our investors as coupons under the bond. Investors are allocated into facilities based on their selected bond, allowing us to offer various terms and liquidity options.
We are currently accepting only bank transfers and cheques. After completing your application online you will receive full details on how to proceed with sending your funds, whether you want to send a cheque or make a transfer. This will be followed up by email as well.
We understand that your time is valuable, which is why we ensure that applying online for a Basset & Gold IFISA Bond is an easy process for all our investors. Investors will then have their own dedicated relationship manager to ensure that the service they receive is second to none.
Yes. We are required by HM Revenue & Customs to tax the interest at source. However, if you are a non-taxpayer, we will provide you with a monthly R185 (through your personal account area) which you can use to claim your tax back.
If you choose to invest in our IFISA Bonds you will not pay tax.
Yes, it is transferrable. You can transfer your funds from your cash or stocks and shares ISA into an IFISA Bond.
As with any other type of investment, there are no free bets; therefore, your capital is at risk.
Yes, the interest is fixed for the term of the bond. The products and interest rates of products on offer may change from time to time.
Yes. There are two types of Concentration Risk that could be associated with an investment in Basset & Gold Fixed-Income Bonds. First, if an investor were permitted to place high proportion of their savings into Basset & Gold Fixed-income Bonds, they would be heavily exposed to Basset & Gold Plc’s insolvency. Second, if Basset & Gold Plc invests heavily in a small number of underlying investments, its ability to service the Bonds will be heavily dependent upon the performance of each individual investment. At present, Basset & Gold Plc invests predominantly in an FCA-regulated consumer lender. The FCA-regulated consumer lender has tens of thousands of loans. Basset & Gold Plc benefits from a corporate debenture over all of the lender’s assets, including all of the loans.”
There is no limit to the amount that you can invest in the IFISA Bond. You can invest up to £20,000 for the 2018/19 financial year, and you can still transfer funds from your existing ISAs into the IFISA Bond.
One of the key benefits of an Innovative Finance ISA is that the interest and capital gains that are generated are tax free. Secondly, higher rates of interest are often available to IFISAs than regular cash or stocks and shares ISAs. This means the opportunity for greater returns is higher than in regular ISAs.
There are no fees involved when investing with Basset & Gold.
This will not affect your entitlement to the payment of sums due from Basset & Gold Plc. If B&G Finance Ltd owes you money at the time of its insolvency because you have a claim against us for having broken FCA rules or our obligations to you under our Investor Terms and Conditions, for example, then you would be able to claim up to £50,000 from the Financial Services Compensation Scheme if you constitute an eligible claimant.
You will rank alongside other creditors of Basset & Gold Plc in the event of its insolvency. The liquidator will work out what is due to each creditor and, if there is any available cash, each creditor will be paid out a percentage of the amount due.
If you die before the end of the term, your bond will become part of your estate and the executor of your estate will deal with bond ownership or redemption.
Our bonds are not redeemable unless in the case of terminal illness. We offer a liquid product (Cash Bond) which is redeemable within a 30-day notice period. Every redemption request will be processed, and non-cash bond redemption requests will be considered within the board's discretion. You cannot transfer bonds, other than bonds held in an ISA, to another person without our consent, which we can withhold for any reason.
Concentration Risk for an investor is a lack of investment diversification.
Financing facilities are provided against full asset-backed security, such as property, corporate debentures and other forms of security in order to protect our investments and your capital.
If you are eligible for FSCS protection, the FSCS may pay compensation on your investment, up to a maximum of £50,000 per person. If two individuals invest through a joint account and both individuals are eligible under the FSCS, they could claim up to a combined maximum of £100,000. A higher individual limit of £85,000 applies in relation to firms offering deposits, such as banks and building societies, that are in default. Please go to our FSCS page for more information on our FSCS coverage.
The minimum amount of investment is £1,000 and the maximum amount of investment is £500,000 for each bond.
Please note that with our Innovative Finance ISA you can use some or all of your annual tax-free ISA allowance up to £20,000 in the tax year 2018/19 plus any previous ISAs that can be transferred up to £500,000.
The products that can be put in a Basset & Gold IFISA Bonds are a bond at 6.12%, on a 3 year fixed term with fixed monthly income (paid monthly) or a 3-year compounding bond which will pay 20.1% over the 3-year term.
The minimum that you can invest into a Basset & Gold IFISA Bond is £1,000.
Your money is put to work on the 1st day of the following month in which you completed your investment with us. Therefore, your interest starts to accrue from this date. Your investment certificate will be sent to you on the 15th day of the month following your investment. If you have invested in one of our monthly fixed income products, your first payment will be paid into your bank account in the following month.
Example: Investment completed at any point during August => Money invested on the 1st of September => Certificate sent on the 15th of September => First payment on the 15th of October.
Basset & Gold Plc. invests in UK marketplace lending platforms and direct loans.
We are a team of seasoned professionals, with decades of experience in finance, who advise and provide financing to marketplace and peer-to-peer lending platforms and direct loans. We look to provide everyday investors with the opportunity to take advantage of an offer that was previously available only to institutional and ultra-high net worth investors, and gain attractive returns from as little as £1,000 by purchasing the Basset & Gold Fixed Income Bonds.
NewLawsLegal is a London-based commercial law firm that has been working with Basset & Gold from day one. Once you choose to invest, you will send funds to NewLawsLegal’s segregated client account. NewLawsLegal is responsible for the legal work associated with us issuing bonds, including our background checks and KYC sign-off. Funds are held in this account until the identification process is completed. Funds are only released for investment once signed off by NewLawsLegal.
There is a processing time that we have to consider when it comes to sending large sums of money. We aim to send the money to our investors as soon as possible, but we are dependent on third parties as well.
At Basset & Gold, we have been diligently and deliberately perfecting our range of investment services before unveiling them to the wider market. Today, we have a considerable number of satisfied investors providing positive word-of-mouth recommendations. We are now seeking to disrupt the financial landscape one product at a time. Find out more about us.
Gallium Fund Solutions is the firm we have selected to act as ISA manager for our clients. It is a requirement of the ISA Regulations that your money be deposited with them (in your ISA account) pending investment into Basset & Gold bonds and payments under the bond be made to your account with Gallium before being paid back to you or re-invested.
Your capital is at risk.
Please refer to the Risk Warning below.