INDIVIDUALS can now start saving money into a lifetime ISA for the first time from – if they can find a provider.
Savers must be aged 18 to 39 to open a lifetime ISA and can contribute up to £4,000 each year until the age of 50.
The government will add a 25 per cent bonus to the savings, up to a maximum of £1,000 per year. This bonus will be added at the end of the 2017/18 tax year and will be paid within 28 days of April 6. During 2018/19 the bonus will be based on contributions made each month.