A Lifetime ISA or LISA (pronounced lie-sa) is a tax-free savings account and Government scheme designed to help you save for two of life’s big milestones: your first home and/or retirement. It works like this.
For every £4 you save – up to an annual total of £4,000 – you’ll get another £1 from the Government. That means you could earn up to £1,000 every year until you turn 50. And that’s not including the interest on top, which you won’t have to pay tax on either.