What is the maximum amount that can be paid into a Lifetime ISA each year by an individual up to the age of 50?

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Multiple Choice

What is the maximum amount that can be paid into a Lifetime ISA each year by an individual up to the age of 50?

Explanation:
Lifetime ISAs have a fixed annual contribution limit. You can pay in up to £4,000 each tax year, and this limit applies while you’re eligible (you can contribute up to your 50th birthday). The government then adds a 25% bonus on those contributions (up to £1,000 per year), but the amount you can contribute each year remains £4,000. That’s why the maximum amount payable into a Lifetime ISA per year is £4,000.

Lifetime ISAs have a fixed annual contribution limit. You can pay in up to £4,000 each tax year, and this limit applies while you’re eligible (you can contribute up to your 50th birthday). The government then adds a 25% bonus on those contributions (up to £1,000 per year), but the amount you can contribute each year remains £4,000. That’s why the maximum amount payable into a Lifetime ISA per year is £4,000.

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