Individual Savings Accounts: Fees and Charges

(asked on 30th January 2024) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many Lifetime ISA withdrawal charges there were in the latest available financial year, broken down by local authority.


Answered by
Bim Afolami Portrait
Bim Afolami
Economic Secretary (HM Treasury)
This question was answered on 2nd February 2024

The number of individuals making unauthorised withdrawals from Lifetime ISAs in the tax year 2022 to 2023 is published in the LISA tables of the HMRC Annual Savings Statistics: https://www.gov.uk/government/statistics/annual-savings-statistics-2023

Geographical information on Lifetime ISA withdrawals is not reported to HMRC. Matching the Lifetime ISA records to other HMRC data sources with geographical data would be incomplete and could only be done at a disproportionate cost.

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