Chartered Management Accountants | Milton Keynes
Subscription limits for ISAs and Junior ISAs are as follows:
|Individual Savings Accounts (ISAs)||2019/20||2018/19|
|Annual investment limit||£20,000||£20,000|
|Help-to-buy ISA*||£1,200 initial and £200 per month|
The Lifetime ISA is for adults under the age of 40. They are able to contribute up to £4,000 per year (which is part of the £20,000 overall ISA limit), and receive a 25% bonus from the Government.
Funds, including the Government bonus, from the Lifetime ISA can be used to buy a first home at any time from 12 months after the account opening, and be withdrawn from age 60. Withdrawal at other times may result in the loss of the government contribution and an exit charge of 25%.
ISA investments can include bonds which are issued by Multilateral Institutions.
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