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  • FIRST POST
    • Bark01
    • By Bark01 7th Oct 17, 3:57 PM
    • 763Posts
    • 242Thanks
    Bark01
    Is the LISA bonus pro-rata?
    • #1
    • 7th Oct 17, 3:57 PM
    Is the LISA bonus pro-rata? 7th Oct 17 at 3:57 PM
    Hi,

    quick question I've got 8k in a LISA that i opened in April (merged a H2B ISA, hence the higher amount). I only just finished putting in this years allowance this month.

    If I buy a house on the 1st April 2018 do I get the full bonus of 2k or is what I put in this year subject to a pro-rata?

    Following on from that if I put in next years 4k allowance on the 1st of April '18 (taking me up to 12k) and then by a house on the 2nd of April would i get 3k as a bonus?

    thanks
    Last edited by Bark01; 07-10-2017 at 4:14 PM. Reason: typo
Page 1
    • greenglide
    • By greenglide 7th Oct 17, 4:16 PM
    • 2,865 Posts
    • 1,842 Thanks
    greenglide
    • #2
    • 7th Oct 17, 4:16 PM
    • #2
    • 7th Oct 17, 4:16 PM
    The purchase would have to be on 6th April or later. Also you would need to have opened the LISA on 6th April 2017 to achieve this - the LISA must have been open for at least a year.

    If you have paid £4,000 new money into the LISA this tax year and you have transferred (say) £4,100 in from a HTB ISA then you will get £2,025 bonus in April ( (4000 + 4200) / 4).

    If you did buy a property on 6th April 2018 it may be "interesting" actually getting the bonus from the government!
    • Bark01
    • By Bark01 7th Oct 17, 4:41 PM
    • 763 Posts
    • 242 Thanks
    Bark01
    • #3
    • 7th Oct 17, 4:41 PM
    • #3
    • 7th Oct 17, 4:41 PM
    My dates were a bit fanciful...

    Think I opened my LISA within the first few weeks and very unlikely I'd be buying on the day after it matured but my thought process seems fine!

    thanks
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