We're thrilled to have a mention in the latest issue of Property Hub magazine! In an interview with Chantelle Dietz, England rugby legend Ollie Phillips spoke about using the rebuildingsociety.com Director's Loan ISA to invest in his property company.
The Property Podcast was started seven years ago, and today podcast episodes are downloaded over 200,000 times a month. The Property Hub team behind the podcast has also written four bestselling books, created free property courses, and publishes a bi-monthly magazine with a mix of case studies, location guides and industry news.
Ollie Phillips is the most successful England Rugby Sevens captain of all time, having led his team to three World Series Cup victories. Following his retirement from professional rugby in 2014, he's broken a Guinness World Record, founded a leadership business, and is Director for Real Estate & Construction at PWC.
Phillips began investing with rebuildingsociety.com in Spring 2020, using his annual ISA allowance to benefit from tax savings on a Director’s Loan to his property development company, Spod Properties Limited.
Already a fan of ISAs for their good rates of interest and tax-savings benefits, Ollie Phillips found that by using the Director’s Loan Account IFISA to lend to his property business through his ISA wrapper, he could continue to receive interest and save tax, and still have access to his capital.
Combining an Innovative Finance ISA with a formalised Director’s Loan is a cheaper and quicker way to secure business funding than borrowing from a bank, with benefits for both the investor and the business.
Earlier this year they began using peer-to-peer lending platform rebuildingsociety.com, to lend money from their annual ISA savings to Spod Properties. “Because I couldn’t get any credit, I’ve always made use of my annual ISA allowance – it was the only way I could save money and make money,” explains Ollie. “It’s a really smart and tax-efficient way of investing. The beauty of the director’s loan account ISA is that money comes out of your company, so it’s tax-deductible – you don’t pay corporation tax on it – and the repayments go back into your ISA, which is tax-free.”
Property Hub Magazine, November/December 2020 issue
