Lifetime ISA withdrawal charges more than triple during lockdown

clock • 2 min read
Lifetime ISA withdrawal charges more than triple during lockdown

Lifetime ISA withdrawal charges have than trebled during lockdown, according to new data gathered by wealth manager, Quilter. Quilter research shows that Lifetime ISA (LISA) early withdrawal charges have more than tripled in a year to £33m in the 2020/21 tax year compared to £10m in 2019/20. A Freedom of Information request shows that over the previous three tax years, a total of £48m has been levied against LISA holders for early withdrawals. In 2018/19 and 2019/20 the withdrawal ch...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login

More on Investments