Written Question·Treasury·UIN 50100
Individual Savings Accounts
Tabled: 6 May 2025
Answered: 13 May 2025
Named DayQuestion
Mark Garnier
Conservative — Wyre Forest
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of updating guidance on the lifetime ISA scheme to clarify the cost of early withdrawal penalties.
Answer
Emma ReynoldsThe Lifetime ISA supports younger people saving for their first home or later life by offering a generous government bonus on up to £4,000 of savings each year. These funds, including the government bonus, can be used to purchase a first home up to the va...
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