Not for me sadly, I had an isa years ago but i spent it on coke and hookers

A friend at work is thinking of taking a wodge of money out of an isa, it wont affect their annuall allowance, but they heard somewhere about there being a lifetime allowance. Google shows nothing to that end, have they got the wrong end of the stick? Help me be the office know-it-all 😆

There’s no limit baby

Probably confused with pension lifetime limits.

Lifetime Allowance is a pension thing isn’t it? Maybe in the context of ISAs it’s referring to the cumulative total: you can keep putting in but once you take it out you can’t put it back in

Thanks

Colleague thinking of Lifetime ISA that starts in early 2017, an improved version of HelpToBuy ISA, which allows us to put the whole year’s £4200 into account in one lump sump?