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Stocks & Shares LISA
db09striker
Posted: 19 March 2017 14:41:51(UTC)
#1

Joined: 04/03/2017(UTC)
Posts: 11

Thanks: 2 times
The stocks and shares LISA (Lifetime ISA) is coming this April.

I am wondering if anyone can help me.....

Does anyone know....

1. If this bonus physically appears within your account. ie. After year 1 will the £4000 literally be topped up to £5000.

2. I will assume that the £1000 bonus does not count towards your annual ISA limit. Is this assumption correct?

3. Can I physically use that £1000 bonus to invest within the Stocks and Shares ISA? I'd assume not as it's supposed to be for a property and not to potentially be lost in stocks?

Thanks.
Grumpy OAP
Posted: 20 March 2017 13:21:18(UTC)
#2

Joined: 24/01/2014(UTC)
Posts: 13

Was thanked: 3 time(s) in 3 post(s)
db09striker;44791 wrote:
The stocks and shares LISA (Lifetime ISA) is coming this April.

I am wondering if anyone can help me.....

Does anyone know....

1. If this bonus physically appears within your account. ie. After year 1 will the £4000 literally be topped up to £5000.

2. I will assume that the £1000 bonus does not count towards your annual ISA limit. Is this assumption correct?

3. Can I physically use that £1000 bonus to invest within the Stocks and Shares ISA? I'd assume not as it's supposed to be for a property and not to potentially be lost in stocks?

Thanks.


1 - yes.
For the first year the bonus payment is annual. Thereafter it is paid monthly

2 - correct - it does not count.
WEF 6/4/17, you have an annual ISA allowance of £20,000, of which a maximum of £4000 can be subscribed to a LISA

3 - yes, you can invest into a stocks & shares ISA.
As far as I know, only 2 brokers will be offering these from 6 April 2017
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