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  • FIRST POST
    • Maddy78
    • By Maddy78 6th Jul 18, 9:12 AM
    • 29Posts
    • 5Thanks
    Maddy78
    LISA questions
    • #1
    • 6th Jul 18, 9:12 AM
    LISA questions 6th Jul 18 at 9:12 AM
    Hi

    Can I keep transferring my 4K LISA pot between providers and get the 1K bonus every tax year?

    With the bonus paid monthly, am I worse off by paying my contribution ina lump sum next march? Obviously I lose a bit of interest on the bonus as it's S&S.

    Thanks

    !!!128521;!!!128558;!!!128018;!!!128018;!!!128018; !!!128018;
Page 1
    • stevenhp1987
    • By stevenhp1987 6th Jul 18, 10:08 AM
    • 671 Posts
    • 534 Thanks
    stevenhp1987
    • #2
    • 6th Jul 18, 10:08 AM
    • #2
    • 6th Jul 18, 10:08 AM
    Hi

    Can I keep transferring my 4K LISA pot between providers and get the 1K bonus every tax year?

    With the bonus paid monthly, am I worse off by paying my contribution ina lump sum next march? Obviously I lose a bit of interest on the bonus as it's S&S.

    Thanks

    !!!128521;!!!128558;!!!128018;!!!128018;!!!128018; !!!128018;
    Originally posted by Maddy78
    So long as you put in money, you will get the bonus, regardless of whether you swap.

    Like many, I swapped from Nutmeg to Skipton and my bonus arrived for that year just fine.

    "worse off" depends on what you plan to do with your money really... If you plan on using it for a home in April, then a March deposit will be too late as it can take up to 2 months (depending on exact day of deposit) for the bonus to arrive. There is nothing stopping you from doing monthly deposits or a one-off deposit as the bonus is paid on whatever you've paid in at the end of the following month.
    • greenglide
    • By greenglide 6th Jul 18, 10:14 AM
    • 3,117 Posts
    • 2,029 Thanks
    greenglide
    • #3
    • 6th Jul 18, 10:14 AM
    • #3
    • 6th Jul 18, 10:14 AM
    get the 1K bonus every tax year?
    You only get the 25% bonus on new money put in. If you just move the LISA from one provided to another and don't put in any new money then there is nothing to get the bonus on!
    • AlanP
    • By AlanP 6th Jul 18, 12:37 PM
    • 1,214 Posts
    • 874 Thanks
    AlanP
    • #4
    • 6th Jul 18, 12:37 PM
    • #4
    • 6th Jul 18, 12:37 PM
    Hi

    Obviously I lose a bit of interest on the bonus as it's S&S.
    Originally posted by Maddy78

    Hopefully just a terminology issue but you do not earn INTEREST on a S&S investment. Your returns will be based on investment performance, which, in any given period can be -'ve, +'ve or no movement at all.
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