Maxing LISA contributions for this tax year
Discussion
As the title suggests, I'm planning on doing so immediately as the tax year is almost over.
I can't seem to get a definitive answer from anywhere on the Internet so my question is: If I max out my LISA contributions before the end of this tax year (£4,000), will I receive the full 25% Government bonus just after tax year end?
My understanding is that this tax year (the first tax year the LISA has been out) you can max it out with one payment and receive the 25% Government bonus in one single payment just after tax year end. From next tax year onwards you have to deposit (up to a maximum of £4,000 p/a still) monthly? (E.g. £333pm x 12) and receive the same 25% Government bonus monthly also. Is this correct? Could you please provide me with links to further information or confirmation of this?
I can't seem to get a definitive answer from anywhere on the Internet so my question is: If I max out my LISA contributions before the end of this tax year (£4,000), will I receive the full 25% Government bonus just after tax year end?
My understanding is that this tax year (the first tax year the LISA has been out) you can max it out with one payment and receive the 25% Government bonus in one single payment just after tax year end. From next tax year onwards you have to deposit (up to a maximum of £4,000 p/a still) monthly? (E.g. £333pm x 12) and receive the same 25% Government bonus monthly also. Is this correct? Could you please provide me with links to further information or confirmation of this?
Edited by S9JTO on Monday 26th March 22:17
I believe I have found what I was looking for almost instantly after posting, apologies.
I'll leave this here though incase it helps anybody else:
The government bonus
1.11 The government will provide a bonus of 25% on contributions made during the year at the
end of the tax year. This means that if an individual has made contributions of £4,000 into their
Lifetime ISA by 5 April 2018, the government bonus will be £1,000.
Taken from: https://www.gov.uk/government/uploads/system/uploa...
I'll leave this here though incase it helps anybody else:
The government bonus
1.11 The government will provide a bonus of 25% on contributions made during the year at the
end of the tax year. This means that if an individual has made contributions of £4,000 into their
Lifetime ISA by 5 April 2018, the government bonus will be £1,000.
Taken from: https://www.gov.uk/government/uploads/system/uploa...
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