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14 July 2016
A guide to the Lifetime ISA.
Announced by Chancellor George Osborne in Budget 2016 and launching on 6 April 2017, the Lifetime ISA is designed to provide a tax-efficient option for people saving for a first home or retirement.
Buying a first home and saving for retirement represent 2 of the most important aspects of a person's financial life, but the latter can often fall by the wayside in the face of other challenges.
The logic of the Lifetime ISA is that a person will continue to save for their twilight years once they have purchased their first property if they are given the same incentives.
The government has revealed a 'high level design' of the Lifetime ISA but the final details will be set out later in the year.
In this article you will read about the details of the new measure including:
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