The draft Individual Savings Account (Amendment No 2) Regulations 2017 establish lifetime ISAs with effect from 6 April 2017. Adults under the age of 40 will be able to open an account and contribute up to £4,000 in each tax year up to the age of 50, to which the government will add a 25% bonus.
A first draft of these regulations was published for consultation between October and January, following which a number of technical amendments have been incorporated in the latest draft.
The draft Individual Savings Account (Amendment No 2) Regulations 2017 establish lifetime ISAs with effect from 6 April 2017. Adults under the age of 40 will be able to open an account and contribute up to £4,000 in each tax year up to the age of 50, to which the government will add a 25% bonus.
A first draft of these regulations was published for consultation between October and January, following which a number of technical amendments have been incorporated in the latest draft.
