Some Lifetime Isa savers hit with £11k penalties by the taxman
Around 74,000 savers were hit with Lifetime Isa penalties between 2022 and 2023, a Freedom of Information by Lifetime Isa provider Plum to HMRC reveals.
4 Oct 06:00 · Mail Online
People making a new claim for Carer's Allowance before deadline next week due £288 Christmas payment
The extra payment will also be paid to people making a claim for Carer Support Payment by Monday, October 7.
4 Oct 08:28 · Daily Record
DWP says state pensioners must act by this date or lose £300 payment
DWP says pensioners must act by a certain date to get a Winter Fuel Payment which is worth £300 each.
3 Oct 13:29 · Birmingham Live
HMRC issues 'charge' to people who've withdrawn their own money
Under the Lifetime ISA rules, savers risk a fine and charge of up to an eye-watering £11k as the Cost of Living crisis up and down the country.
3 Oct 09:52 · Birmingham Live
Savers charged at least £11,000 to withdraw cash from Lifetime Isas
Lifetime Isas (Lisas) help people to save for their first home if the property costs £450,000 or less or their retirement
3 Oct 09:42 · Wales Online
Warning as 74,000 people charged up to £11,000 to withdraw cash from their own savings
According to new figures obtained by a Freedom of Information (FOI) request by the money app Plum, around 74,000 people were penalised for accessing their lifetime ISA in 2022-23
3 Oct 08:12 · The Mirror
HMRC sending out £11,000 fines but they could be rescinded under Labour
The new Labour Party government could reportedly scrap the penalty, which costs £11,000 for some couples and first-time buyers, in the Autumn Budget.
3 Oct 06:59 · Birmingham Live
HMRC fining people £11,000 for mistake when 'withdrawing their own money'
Savers are being hit with a tax charge while attempting to put money away from property and HMRC data indicates many savers are losing thousands of pounds to the taxman.
2 Oct 23:01 · Birmingham Live
HMRC warning over lifetime ISAs as some savers lose £11,000
The product could be scrapped in the October Budget
3 Oct 05:26 · PlymouthLive
last updated on 4 Oct 11:22