48+ Lifetime Isa Natwest Images. The main purpose of a lifetime isa is to help you save money for a comfortable retirement. The isa has long been an incredibly attractive way for uk investors to shield their investment income and capital gains from all taxes.
The lifetime isa was primarily designed to encourage a saving culture among the young, and therefore carries what one may consider punitive withdrawal charges.
Open a lifetime isa today and you can use it towards a deposit for a first home or retirement. The government offers savers a 25% annual bonus. The launch of the lifetime isa last week got many savers so excited that they immediately rushed to open the accounts. This is £20,000 for the 2020 to open and continue to pay into a lifetime isa you must be a resident in the uk, unless you're a.
