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  • FIRST POST
    • Bethandrews2
    • By Bethandrews2 8th Feb 18, 6:47 PM
    • 1Posts
    • 0Thanks
    Bethandrews2
    Lifetime ISA Government Bonus
    • #1
    • 8th Feb 18, 6:47 PM
    Lifetime ISA Government Bonus 8th Feb 18 at 6:47 PM
    Hi.

    I recently opened a Lifetime ISA on 11th January 2018 and deposited 1 so I will be able to use it towards buying my first home from 12th January 2019 on wards.
    I am planning on transferring my Help2Buy ISA balance of 4000 into my LISA Before April 4th so that i will get the maximum bonus of 1000 for the 2017/2018 tax year. I have read on the 'Lifetime ISAs' blog posted by martin that...

    'The first year's bonus is added to your account in April/May 2018, it's then paid monthly (assuming you've contributed that month)'

    So, by 12th January 2019 I will be eligible to use my lifetime ISA towards my first home because it will have been open for 12 months. Between April 6th 2018 and January 12th 2019, if I put the maximum contribution of 4000 into the Lifetime ISA, will I get the full bonus of 1000 on that as bonuses are paid monthly after the first year? or will i only get the bonus at the end of the 2018/2019 tax year?

    Thanks
Page 1
    • Ashers92
    • By Ashers92 8th Feb 18, 7:20 PM
    • 84 Posts
    • 159 Thanks
    Ashers92
    • #2
    • 8th Feb 18, 7:20 PM
    • #2
    • 8th Feb 18, 7:20 PM
    Correct, yes.

    You could pay in the full 4000 on April 6th, and receive the full 1000 bonus in the following month.
    #157 - Save 12k in 2016: 12000 / 12000
    House deposit saving mode active: 21690 / 40000
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