Daily Archives: March 16, 2016

What is the Lifetime ISA – Budget 2016 Announcement 1

In the just released budget statement, chancellor George Osborne has implemented a Lifetime ISA. The Lifetime ISA will provide a flexible way for people under the age of 40 to save tax free. With this lifetime ISA, people under the age of 40 can put money in and get a government bonus and use it to either buy their first home or save for their retirement. Here is how a Lifetime ISA works: From April 2017, anyone under the age of 40 will be able to open a Life time ISA and save up to £4000 each year. For every £4 you save, the government will give you a bonus […]

The Government Help to Save Scheme – Budget 2016

In the just released budget speech by the Chancellor George Osborne, government has outlined a scheme to help low income earners save more money. The scheme enables people who claim working tax credits or universal credit to save up to £50 a month and pocket a bonus of 50 per cent, earning a maximum of £600 after two years. The scheme can be taken up for up to 4 years thus meaning that a regular saver can get a bonus of up to £1,200! If I was eligible for the help to save scheme, I would be licking my lips. No where else can you get returns of 50% on […]