New to investing, any advice?

LMS94

Hey,

I'm looking at starting to invest.

To get started, I've looked into P2P lending with Zopa or Rate Setter.

I imagine I'd be better of getting the ISA account, thus, avoid tax on the interest gains?

Any advice is appreciated.

Thanks

Albermarle

You will know there is a certain amount of risk with P2P , although the two companies you mention are at the lower risk end .
Regarding using the IFISA tax wrapper you should note that, If you are a basic rate taxpayer you can earn up to £1000 in interest tax fee anyway from all sources in one tax year, so the ISA wrapper might be unecessary .

Wildsound

It seems incredibly common these days for people new to investing to mention P2P as the first thing they come across...

P2P is one of the last things you should be considering in my opinion as these are high risk investments given a low risk branding gloss over the top.

I suggest going here first:
https://www.moneysavingexpert.com/savings/stocks-shares-isas/#research

Then look at the other similar topics on this forum (Which there are many)

Albermarle

It seems incredibly common these days for people new to investing to mention P2P as the first thing they come across...

I had not clicked that this would be the OP's first foray into investing generally.
In my opinion P2P is a valid part of an investment portfolio but it should only be a minor part and not the first port of call.