If the new tax year starts and I conclude a purchase on the 7th, will the 25% bonus be still given?

30 January 2023

Question by Thomas

If the new tax year starts and I put in £4,000 into a LISA for example on the 6th April and then go on to conclude a purchase on the 7th (i.e., before the bonus would normally be visible) will the 25% bonus be given on that £4,000?


Answered by

Hi Thomas

I've googled your question and have got this answer from https://lifetimeisa.campaign.gov.uk/

"If you withdraw money from your Lifetime ISA before you have received the government bonus you will still be entitled to the bonus on your contributions. Your Lifetime ISA manager will claim the bonus in the same way as if the funds had not been withdrawn and pay that bonus to you (either into your Lifetime ISA or directly to you)."

Sometimes even Financial Advisers don't know all the answers!

Regards
Rachel