The recent news that the withdrawal charge for Lifetime ISAs (LISA) was being dropped from 25% to 20% was very welcome and a pragmatic move by the Treasury.
Young workers would ditch a pension contribution from their boss to save into a Lifetime ISA, a report suggests.
Regular readers may recall the first Blog that I wrote for Sipps Professional in December last year, entitled “The Law is a Drag”.
The much-anticipated capital adequacy regime for SIPPs is finally upon us, and providers now have to get out their abacuses, and remove their shoes and socks, in order to undertake the calculations that will determine the requisite size of their capital reserves, underpinning the membership of their SIPP book of business and portfolio of assets.
Who could have predicted the political machinations that have unfolded since the UK narrowly voted ‘Leave’ on June 23rd, with more sackings and resignations in the last three weeks, than during a normal week at Leeds United.
Auto-enrolment is now entering a critical phase, with approximately 1.8 million small and micro-employers attaining their ‘Staging Date’ during this year and next.
One of the Chancellor’s ‘rabbits from his hat’ in this year’s Budget was the Lifetime ISA.
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