For some clients, there are compelling reasons why the LISA can be used as a complement to the tax benefits on offer in pensions, writes Joshua Croft
One of the now discarded policies from the not-so-mini budget recently was to reduce basic rate income tax from 20% to 19%, this would have reduced income tax paid but also the basic rate tax relief claimed on pension contributions. Had it been implemented some may have looked at the lifetime ISA, or LISA, with its 25% government bonus, more favourably than a pension. Even with the U-turn on the basic rate cut, meaning pension tax relief is still the equivalent of the 25% LISA bonus, LISAs may still be seen as useful for retirement savings. Following their introduction in 2017, LIS...
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