Lifetime ISA

All topics Lifetime ISA How much can I pay into my Lifetime ISA and how do payments work?

How much can I pay into my Lifetime ISA and how do payments work?

You can currently deposit up to £4,000 into your Lifetime ISA (LISA) each tax year, which counts towards your overall annual ISA allowance of £20,000. You can check how much of your annual allowance you have left by heading to Discover > Saved this tax year in the app 👍.

There are a few different ways to pay into your LISA with Moneybox:

  • From your linked bank account: You can set up weekly collections of as little as £1 via Direct Debit, or make one-off instant payments of £100 or more via easy or manual bank transfers. 
  • Move money: It’s possible to move up to £4,000 (or your remaining allowance) per tax year from a Moneybox Cash ISA or Stocks & Shares ISA into your LISA. 
  • Transfer in from another provider: You can transfer in an existing ISA or LISA (including Help to Buy ISA) held with another provider. 
  • Home-buying gift (Cash LISA only): If you have a Moneybox Cash LISA, up to four friends and family can gift you a total of £2,000 per tax year. Each person can contribute a maximum of £500, and these gift deposits count towards your LISA allowance. 

 

How useful was our article?

View other topics

It's important you know

Capital at risk. All investing should be for the longer term. The value of your investments can go up and down, and you may get back less than you invest. Tax treatment depends on individual circumstances and may be subject to change in the future.

A 25% government penalty applies if you withdraw money from a Lifetime ISA for any reason other than buying your first home (up to £450,000) or for retirement, and you may get back less than you paid into your Lifetime ISA.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Payments you make into your pension won’t be accessible until the minimum pension age (currently 55, increasing to age 57 from 2028). Tax treatment depends on individual circumstances and may be subject to change in the future.

For Business Saver: T&Cs apply. Max one withdrawal per day.

Get started