Martin Lewis · The Martin Lewis Podcast · ISAs are changing: what to do now (cash, shares, LISAs) | State Pension Tax Help | Interest rate rises
explains that you can contribute £4,000 a year to either the first-time buyer ISA or the lifetime ISA, but not both, to receive the government bonus
£4,000 per year
“You can have a lifetime ISA and a first time buyer ISA and get the bonus on both when you buy a first time property what you can't do is contribute to both in the same tax year”
“The government has committed to doing so the lifetime ISA should pay out a bonus up until the age of 50 so you get the bonus up until the age of 50”
“Once you've chosen that account, you can then transfer money into a stocks and shares ISA and preferably into a low-cost diversified fund”
“Usually it's around 2%, but let's just say you spend $10,000 on taxes in a year, you're paying $200 to do it, but you might get 175,000 Amex points in the process.”
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