Time to welcome the Lifetime ISA

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6th April marks the launch of a new ISA variant, the Lifetime ISA (LISA)

One of the last surprises produced by George Osborne in his final Budget was the announcement of the Lifetime ISA. Shortly after Mr Osborne was replaced it began to look as if the LISA, as it inevitably became known, would suffer the same fate. However, in September the idea re-emerged from the Treasury, with an unchanged launch date of
6th April 2017.

The key points about the LISA are:

Initially you are likely to have only a limited choice of LISAs – most providers have not had enough time to develop their offerings because of the legislative delays. However, if you are tempted by a LISA, do talk to us before taking any action. While a LISA might look like an attractive alternative to traditional pension arrangements, it will not always be the case.

Plant growing from a stack of coins

The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. Investing in shares should be regarded as a long-term investment and should fit in with your overall attitude to risk and financial circumstances. The value of tax reliefs depends on your individual circumstances. Tax laws can change. The Financial Conduct Authority does not regulate tax advice.

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