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Enter your details to see your Lifetime ISA projection.
Calculate your Lifetime ISA government bonus, projected pot and how long until you can buy your first home or retire.
Enter your details to see your Lifetime ISA projection.
The government adds 25% to every contribution. The maximum contribution is £4,000/year, giving a maximum bonus of £1,000/year. The bonus is paid monthly. You can use the LISA to buy your first home (up to £450,000) or withdraw penalty-free at age 60.
Withdrawing for any reason other than a first home or age 60 incurs a 25% charge. Since the bonus was 25% of contributions, this claws back the full bonus and about 6.25% of your own savings. The government removed the temporary COVID-era reduced penalty (20%) in April 2021.
You can use a Lifetime ISA for properties up to £450,000. If the home costs more, you cannot use the LISA and the 25% penalty applies if you withdraw. Both the property must be in the UK and you must use a conveyancer.
Yes. The £4,000 LISA allowance counts within your overall £20,000 ISA allowance. So you could put £4,000 into a LISA and £16,000 into another ISA in the same tax year. You can have both a cash LISA and a stocks and shares LISA but cannot pay into both in the same tax year.
For informational purposes only · Not financial advice · LISA rules subject to change · Verify current limits at gov.uk