Individual Savings Accounts
Commons · Question 50100 · Tabled 6 May 2025 · Treasury · Official record
Answered 13 May 2025
Question
Asked by Mark Garnier
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of updating guidance on the lifetime ISA scheme to clarify the cost of early withdrawal penalties.
Answer
Answered by Emma Reynolds, 13 May 2025
The Lifetime ISA supports younger people saving for their first home or later life by offering a generous government bonus on up to £4,000 of savings each year. These funds, including the government bonus, can be used to purchase a first home up to the va...