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Lifetime Individual Savings Accounts - Make your next move to saving flexibly for a first home and retirement

In Brief: Lifetime Individual Savings Accounts - Make your next move to saving flexibly for a first home and retirement

Tuesday, 24 January 2017

Are you a first time buyer or are you looking for another way to save for retirement? If you're between 18 and 40 a Lifetime Individual Savings Account could be for you. From April 2017 the Lifetime ISA allows you to save up to £4000 per year, and the government will also pay in a bonus of 25% per year. The savings in a Lifetime ISA won't have to pay any Capital Gains Tax or further Income Tax on profits taken. The savings can then be used towards buying your first house or keep it until your 60 and use in retirement.

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