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Treasury Committee requests evidence on Lifetime ISA amid calls for reform
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investmentweek.co.ukThe committee is seeking input from the finance industry, consumers, and experts to evaluate whether the LISA is still fit for purpose. The LISA was introduced by then-chancellor George Osborne in the 2016 Budget. It was designed to serve a dual purpose: helping under-40s save for their first home while also providing a tax-free savings option for retirement. ISA reform 'under review' after absence in Budget and Mansion House Funds can only be withdrawn penalty-free for specific purposes, including purchasing a first home, reaching the age of 60, or being diagnosed with a terminal ...
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