We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Does it matter when funds are paid into a Lisa for the 25% bonus?
ThunderHoof
Posts: 92 Forumite
I was just wondering does it matter at what point in the year funds are paid into a LISA for the purpose of receiving the government 25% bonus?
0
Comments
-
No, it's paid within 4-8 weeks of any deposits.ThunderHoof said:I was just wondering does it matter at what point in the year funds are paid into a LISA for the purpose of receiving the government 25% bonus?0 -
Assuming it is a cash LISA, if you are getting a better return interest rate wise outside the LISA, then you will benefit slightly by keeping your up to £4000 tax year contribution to March. However for the differential interest rate calculation, you must take into account that you might go over the £1000 Personal Savings Allowance and pay tax but more importantly the sooner you put in £4000 the sooner you will have an extra £1000 from the government into the LISA earning more interest. If you are in one of the top interest paying LISA`s then paying in £4000 soon after 6th April may be best.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards