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Jun 2, 2022 · She has a good deposit saved in a LISA plus some additional savings. She meets all the LISA criteria - one of these is that she must buy with a mortgage. The property she wants to buy is a good deal but is difficult to mortgage (it is leasehold and above a cafe). A family member (grandparent) could loan her the money.
Jul 24, 2022 · All FAQ's/searches/etc talk about transferring funds deposited in the same tax year (therefore must transfer the full amount), or partial transfers from regular ISA's (which obviously then counts towards LISA limit for that tax year). I can't find anything to confirm whether I can pay £4,000 in this year, then transfer £3,900 next year and ...
May 12, 2020 · One rule is that you can't use the money for a LISA for a house purchase for 12 months from the date of opening without penalties applying. Another rule is that you can invest up to £4000 per tax year and you can get up to £1000 bonus per tax year. That means if you open an account in March you can pay in £4000 on 10th March and £4000 on ...
LISA penalty with inherited house. Hi I have a few questions about application of LISA penalties where someone inherits a property while saving. I'm saving for my own property at the moment which I expect to take a couple of years more and am paying into a HTB ISA. My parents are not in good health and we've been having some frank conversations.
Apr 20, 2017 · If the LISA is used to invest into a broad portfolio of internationally diversified equity and bond investment fund investments over a 19 year period you could probably expect real terms growth of somewhere between 75-130% (assuming the investments return, on average, somewhere between 3% and 4.5% in excess of inflation each year, which is not particularly high in historic terms).
Mar 24, 2023 · In theory yes, but in practice someone over the age of 40 will have issues due to systems limitations of most S&S LISA providers, whereby they will not accept any application at all from someone over the age of 40. masonic Posts: 24,280 Forumite. 24 March 2023 at 10:47AM edited 24 March 2023 at 10:48AM. CompulsiveSaver said:
Mar 7, 2024 · AJ Bell LISA. redblueplanet Posts: 10 Forumite. 7 March at 6:14PM. Thanks to this forum, I decided to transfer my cash LISA (for retirement not house purchase) to a S&S LISA with AJ Bell. The transfer has gone through and now the money is sitting in cash and apparently I need to select an investment from a frankly mind-boggling choice.
Feb 14, 2018 · in a LISA: you put in £100 (from your salary after tax), and £25 bonus is added to that, then you get x% growth, and you take out the whole £125 (+ x% growth), tax-free. in a pension: if you're prepared to give up £100 of after-tax salary), then you can give up £147.06 of pre-tax salary (because 20% income tax + 12% employee NI on £147.06 comes to £47.06).
Mar 25, 2022 · Nothing wrong (and quite sensible IMHO) to continue with £4k in LISA and £16k in S&S ISA each tax year. Remember you can always access the LISA money before 60 by paying the penalty, hopefully you would have had some decent returns up until that date (if you do withdraw early) so should be manageable.
Aug 29, 2022 · 29 August 2022 at 5:34PM edited 29 August 2022 at 5:35PM. You would both transfer to your son's current account. He would then add it to his LISA from his account. Then repeat in the new tax year in April and then again the following April to get the full £12k in as soon as possible. masonic Posts: 24,217 Forumite.
