Homebuyer Lifetime ISA question (Beehive)

Matt_Tiger

Hello, 

I'm fairly new to this so I apologise if this is obvious or has been answered before. 

At the start of 2022, I opened a Homebuyer Lifetime ISA with Beehive and added £3,001 and received the government bonus after so many weeks for that total. At the start of March, I added the remaining £999 to top up before the new tax year. However, the government bonus has not yet been added. Does this mean the bonus will come out of Year 2's total, or still come out of Year 1's total? I believe if I save £4,000 per tax year and get a bonus of £1,000. Just depends which pot I'm picking from. 

P1Fanatic

Not sure what you mean by pots & totals as its all one pot essentially. The govt are just topping up any contributions you make by 25%. The bonus on the 2nd payment of £999 (when it gets paid) will be for last years allowance (presuming the money did actually arrive in your LISA account before April 6th). And anything on or after April 6th will be for this years allowance so up to the same max £4k personal contribution which will get another £1k bonus.

george4064

It comes out of the total for the tax year the original payment was made, so in your scenario it would come out of ‘total 1’.

Matt_Tiger

george4064 said:

It comes out of the total for the tax year the original payment was made, so in your scenario it would come out of ‘total 1’.

Brilliant. Thank you for your help 

eskbanker

Matt_Tiger said:

At the start of March, I added the remaining £999 to top up before the new tax year. However, the government bonus has not yet been added.

If you paid in by the 5th, you should have had the bonus by now, but anytime from the 6th puts you into the next monthly cycle, paying bonuses around the end of this month.