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Limit to gifting to LISA
SanMonmouthshire
Posts: 2 Newbie
I have found out that Moneybox puts a £500 limit on how much you gift to someones LISA. Is this the legal limit or something Moneybox is imposing.
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Comments
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It's a Moneybox invention, apparently aimed specifically at enabling people to pay directly into someone's LISA - if approaching that limit, there'll be nothing preventing anyone from gifting money to the LISA holder, who can then pay into their LISA....0
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Many ISAs won't accept third party payments full stop. Some will have higher limits.
Third party payments cause extra work and liability.
Usually its better for the person gifting to give it to the account holder and the let the account holder pay it in.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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