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Lifetime ISA calculator

Find out how the government bonus could help you save.

How much do you plan to contribute each year?


Please enter a valid date of birth, you must be between 18 and 39 years old to start a Lifetime ISA.

20 years

Important information: this calculator shows the total amount which will be paid into your Lifetime ISA over the selected period and is not a projection of what it will be worth. Tax rules can change and the value of any benefits depends on your circumstances. A 25% government withdrawal charge will be applied should you withdraw money other than for a first house purchase, after your 60th birthday or if you are in terminal ill health. This will be charged on the full withdrawal amount, so you could receive less than you have paid in. This will not apply in the 2017/18 tax year.

If you decide to opt out of your workplace pension to pay into a Lifetime ISA, you will not benefit from any employer-matched contributions and it may affect your current and future entitlement to means-tested state benefits.

Could your Lifetime ISA be worth more invested?

Important information: The annual growth rate actually achieved will depend on the performance of the investments chosen. Results are based on a charge of 1.25% including our platform charge and presumed charges involved with the underlying investments. They do not take account of inflation.

Remember the value of investments can fall as well as rise so you could get back less than you invest.

More about the lifetime ISA rules and allowances

Once opened, you can contribute £4,000 each year up until the day before your 50th birthday and the government will add an extra 25% bonus – up to £1,000 each year.

What is the lifetime ISA allowance?

The maximum you can contribute to your Lifetime ISA is £4,000 per year. This makes up part of your overall ISA allowance (£20,000 across all ISAs) for the current tax year.

What’s the maximum government bonus I can receive each year?

Any contributions you make to a Lifetime ISA before your 50th birthday will receive a 25% bonus from the government. Since you can contribute up to a maximum of £4,000 to a Lifetime ISA each tax year, the maximum bonus each year will be £1,000 (25% of £4,000).

For contributions made during the 2017/18 tax year (between 6 April 2017 and 5 April 2018), the bonus will be paid within four weeks of 6 April 2018. From the 2018/19 tax year onwards, the bonus will be paid monthly.

Please note, any Lifetime ISA bonus will not count towards either the £4,000 Lifetime ISA limit or the overall £20,000 ISA limit.

Further, transferring a Help to Buy ISA to a Lifetime ISA in this tax year could mean access to more government bonus. Find out more

Who is eligible to contribute to a Lifetime ISA?

Anyone aged between 18 and 39 can open a Lifetime ISA and while you are under the age of 50 you can contribute up to £4,000 a year and receive an added 25% government bonus.

When can I withdraw from my Lifetime ISA?

You can withdraw the money for an eligible property purchase, after age 60 or if you are diagnosed with a terminal illness. Withdrawals made at any other time will incur a 25% government withdrawal charge, except withdrawals in the 2017/18 tax year (see below).

If you incur a withdrawal charge this may mean you receive back less than you have invested. For example, you contribute £4,000 and receive a £1,000 bonus. You then withdraw this £5,000 and are subject to a £1,250 government withdrawal charge and get back £3,750.

  • Once the Lifetime ISA has been open for 12 months, you can use the funds (including the governments bonus) to buy your first home in the UK costing up to £450,000. If the Lifetime ISA has been open for less than 12 months the government withdrawal charge will apply to the withdrawal. The purchase must be funded by a mortgage or regulated home purchase plan meaning a cash purchase would not be permitted.

  • Individuals can also use the Lifetime ISA to save for their retirement and can make withdrawals without a government withdrawal charge after the age of 60. The Lifetime ISA can be used alongside other accounts (such as pensions) when saving for your retirement.

    It should be noted that if you decide to opt out of your workplace pension to pay into a Lifetime ISA, you will not benefit from any employer contributions and it may affect your current and future entitlement to means-tested state benefits.

  • Individuals that have been diagnosed with a terminal illness are able to withdraw funds from their Lifetime ISA without the deduction of the government withdrawal charge.

  • If you withdraw money in the 2017/18 tax year for any purpose, your Lifetime ISA will be closed. You will neither receive the bonus nor incur the government withdrawal charge. This exception applies for the 2017/18 tax year only.

Your free Lifetime ISA factsheet

ind out more about how and where you can invest and the options for savers with a Help to Buy ISA

Download your guide