Lifetime isa

grumiofoundation

xylophone said:

I hear a stick and share isa is risky ....

Might get beaten.....?

Wondered if someone wood twig on that one. 

Jazzo111

Decided to go with beehive money cash lifetime isa signing up today 

Jazzo111

So signed up to it and all set up how much do you usually have to add to these lifetime isa to get the monthly bonus? Don’t know how much to put In for my 1st month lol 

masonic

Jazzo111 said:

So signed up to it and all set up how much do you usually have to add to these lifetime isa to get the monthly bonus? Don’t know how much to put In for my 1st month lol 

I don't believe there is a threshold, although you'll have to deposit at least 4p to get a 1p bonus.

Albermarle

Jazzo111 said:

So signed up to it and all set up how much do you usually have to add to these lifetime isa to get the monthly bonus? Don’t know how much to put In for my 1st month lol 

To get the maximum £1K bonus over a tax year , you need to add £4K yourself . So that would be £333 per month .

However as this month is the last of this tax year and you have only just opened it , you would need to add £4K before April 5th to get the full £1k bonus.

Jazzo111

Wait just to confirm I Can add 4 grand now and get the 25% bonus then add another 4 grand and get another grand next year? I thought it was to late to get the bonus this tax year cause I just opened it 

Alexland

Jazzo111 said:

Wait just to confirm I Can add 4 grand now and get the 25% bonus then add another 4 grand and get another grand next year? I thought it was to late to get the bonus this tax year cause I just opened it 

You can add up to £4k in one or more transactions anytime during the tax year which ends on the 5th April each year. Some providers have an earlier cutoff for final contributions to count as within the tax year and I wouldn't suggest you leave it too late to add the money incase of unexpected issues. Just remember that whatever contribution you might have made to open the account would need deducting from the £4k you are about to add. We have seen it in the past where a whole £4k contributions has been rejected as the account had already been opened with £1 so the next contribution should have been £3999 etc.