Lifetime Individual Savings Account
What is a Lifetime Individual Savings Account (LISA)?
Lifetime Individual Savings Account (LISAs) are a new type of ISA designed to help people aged between 18 and 40 save up for their first home, or retirement. At the end of the tax year the Government will top up your ISA with a 25% bonus. You will be able to earn a 25% bonus on your LISA contributions up until the age of 50.
Lifetime ISAs can hold cash, stocks and shares qualifying investments, or a combination of both.
Contribtuions can continue until you reach 50 with the account remaining open after this, however you cannot make any more payments into it.
Your savings will be kept on a tax-free basis for as long as you keep the money in your LISA.
Eligibility
To be eligible to invest in a LISA;
- You must be between the ages of 18 and 40
You must also be either;
- Resident in the UK
- A Crown Servant (for example a diplomat or civil servant)
- The spouse or civil partner of a Crown Servant
Any money you put into your LISA will be included as part of your annual ISA contribution limit.
Find out more in our Lifetime Individual Savings Account Guide
Tell me more about Lifetime Individual Savings Accounts (LISA's)
Independent Financial Advice
Speak to a fully qualified and independent
Invest Southwest adviser today.
Call 01823 353970
or
Why choose Invest Southwest for your LISA Advice?
- We have a team of fully qualified and independent financial experts
- We are highly recommended by our clients
- We deal with a wide range of products
- Our initial consultation is FREE
Call 01823 353970 to find out more
"Couldn't have had a better experience, all information easily understood, no delays in responding to communications. Would recommend to anyone. Thankyou"
Miss H.
Latest Savings Articles
Spring Budget overlooks first-time buyers
It was a disappointing Spring Budget for anyone looking to ...
Economic Review - March 2024
Short-term growth forecasts upgraded New economic predictions produced by the ...
Investing in an election year
If elections have consequences, as Barack Obama said, then 2024 looks ...
A plan to grow the economy
With the Office for Budget Responsibility (OBR) predicting the ...
Independent Savings & Investment Advice
The Financial Conduct Authority does not regulate tax advice.
The value of investments can fall as well as rise. You may get back less than you invest.