Budget 2016: Lifetime ISAs explained

Announced in 2016 Budget

clock • 8 min read

The lifetime ISA - announced by Chancellor George Osborne in today's budget - will allow those between 18-40 to open an account and save up to £4,000 a year until age 50.

Contributions into the Lifetime ISA will receive a government bonus of 25% - up to £1,000 a year. The savings and bonus can be used towards a deposit on a first home worth up to £450,000 across the country. Accounts are limited to one per person rather than one per home - so two first time buyers can both receive a bonus when buying together. Gosling's Grouse: Let's give credit where it is due for Osborne's new Lifetime ISA If an individual has a Help to Buy ISA they can transfer those savings into the Lifetime ISA in 2017, or continue saving into both - but they will only be ab...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Partner Insight: Power play - Building the case for infrastructure in 2025

Partner Insight: Power play - Building the case for infrastructure in 2025

Tom Levering, Wellington Management
clock 11 March 2025 • 11 min read
Stories of the week: Trump, private markets, and the UK labour market

Stories of the week: Trump, private markets, and the UK labour market

Tariffs, the FCA, and Close Brothers Asset Management: The biggest stories from the world of investment and asset management this week

clock 07 March 2025 • 1 min read
Partner Insight: A.I. meets Infrastructure - a tale of data storage, energy efficiency and opportunities

Partner Insight: A.I. meets Infrastructure - a tale of data storage, energy efficiency and opportunities

The AI revolution is transforming data centres into a booming business. This propels sustainable innovation and growth with numerous investment opportunities in the infrastructure space on the horizon

Van Lanschot Kempen Investment Management
clock 05 March 2025 • 6 min read
Trustpilot