Save tax-efficiently for your first home
A Lifetime ISA (LISA) can be a tax-efficient way for eligible first-time buyers aged 18 to 39 to save towards their first home. Individuals can contribute up to £4,000 each tax year and receive a 25% Government bonus, providing up to £1,000 per year. Funds can be withdrawn penalty-free to purchase a first residential property in the UK (subject to the prevailing LISA rules and property value limits), provided the account has been open for at least 12 months. Withdrawals for other purposes before age 60 are normally subject to a Government withdrawal charge.
Tax-efficient savings accounts can help you work towards important financial goals while making the most of available tax advantages. We can help you choose the most suitable approach based on your circumstances and objectives.
The value of your investment can go down as well as up and you may not get back the full amount invested