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Help to Buy ISA vs Lifetime ISA - please help!
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Tony_Pezz said:Thanks. After I posted my question I realised that they have a LISA not HTB. HMRC has dropped the 25% penalty to 20% until July 2021. It is still a £2,000 lossWell they just didn't qualify for the bonus so the government money was added and will be removed from the account. It's the same as previous tax years where they didn't have LISAs so neither earned or lost the bonus. Or future tax years if they don't continue with LISAs.Another option, if they can afford, would be to keep the money in the LISA wrapper transferring to a long term S&S investment LISA provider and withdraw without penalty from age 60 to help pay for their retirement.0
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