Handbook changes to reflect the introduction of the Lifetime ISA

The LITRG welcomes the opportunity to respond to some of the questions in this Financial Conduct Authority consultation on handbook changes to reflect the introduction of the Lifetime ISA. Our main concerns centre around the tax differences between saving in ISAs and saving in pensions, presenting the average saver with an almost impossible decision; complex calculations will be needed involving the relative advantages of the two routes. Furthermore, the taxed input into the proposed LISA can vary to the disadvantage of the saver whose salary increases so that they become a higher rate taxpayer.