Website error

BobQ

I recently emailed MSE to politely inform that I thought their website contained an error:

http://www.moneysavingexpert.com/savings/lifetime-ISAs

Re the above link, the Table in Question 11 refers to HRT payers getting 66% tax relief, surely this is wrong?

My email went to the address on the page and I got an automatic email telling me that if it was not about personal news my email would not be considered.

I sometime wonder if its worth trying to help MSE....

Pyxis

My first thought was that when I was on HRT, I didn't get 66% tax relief. :mad:

grumbler

BobQ wrote: »

I recently emailed MSE to politely inform that I thought their website contained an error:

http://www.moneysavingexpert.com/savings/lifetime-ISAs

Re the above link, the Table in Question 11 refers to HRT payers getting 66% tax relief, surely this is wrong?....

Pensions: Everything you need to know for retirement
>> 2 Is a pension really worth it?





I guess what they mean is £40/£60=66%

MSE_Helen_S

Hi Bob Q

Grumbler is correct. To do a proper comparison of the Lifetime ISA bonus with pension tax relief, we need to look at the ratio of what's being put in by you, compared to what's being put in by Government.

So, in the LISA, to get £1,000, you need to put in £800 and the Government puts in £200 (and £200/£800 is 25%).

If you're a basic rate taxpayer, the pension tax relief would act the same - to get a £1,000 total, you need to put in £800, tax relief is then £200 (25%).

If you're a higher rate taxpayer, then to get £1,000 in a pension, you put in £600 and the tax relief is £400. So £400/£600 is around 66%.

This is why we use the figures we do - I hope this is helpful.