Martin Lewis · The Martin Lewis Podcast · ISAs are changing: what to do now (cash, shares, LISAs) | State Pension Tax Help | Interest rate rises
Explain that you can hold both a Lifetime ISA and a First Time Buyer ISA, but you cannot contribute to both in the same tax year
“A pound coin with a list of the top lifetime ISA provider in there at the time and a note and say please go and put this pound in a lifetime ISA and you'll be starting an 18 year off”
“You will be able to contribute £4,000 a year to one of them you can choose which one you contribute to you but you can't contribute to both”
“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”
“The asset it's 60% for both the asset reduction or accessible value for both the asset and the income test. And then the 60% is up until 80, age 84 minimum of if you've taken it out for five years and then 30% for life.”
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