Since April 2017, you’ve been able to open a Lifetime ISA if you’re aged between 18 and 40. For every £4 you pay in, the government will add £1. You can pay in a maximum of £4,000 a year to receive the £1,000 bonus from the government, which will be added at the end of […]
Lifetime ISAs became available as from 6 April 2017, though there are as yet few providers.
The tax year end is approaching and calls for a review of personal finances.
With effect from 6 April 2016, a new savings allowance is to be introduced under which the first £1,000 of interest earned each year by basic rate taxpayers and the first £500 of interest earned by higher-rate taxpayers will be free of tax.
Pension lifetime allowance In an unexpected announcement, the maximum value of pension wealth which can be accumulated without incurring a 55% tax charge is to be reduced from £1.25 million to £1 million with effect from April 2016.