Lifetime ISA withdrawal penalties surpass £9m

Savers have been charged more than £9 million after dipping into their lifetime ISAs, a freedom of information request (FOI) has shown. The lifetime ISA was introduced in April 2017, enabling adults under 40 to save up to £4,000 a year towards either a first home or...

Self-employed population nears 5m

The number of self-employed people in the UK is inching ever closer to the five million milestone, official statistics show. The Office for National Statistics' final labour market survey of the decade showed a record 4.96m people were registered as self-employed....

Pension saving levels among women hit 15-year high

Pension saving levels among women have hit a 15-year high, according to research from Scottish Widows. YouGov polled 5,036 adults on behalf of Scottish Widows earlier this year and found that 57% are saving enough for retirement. Average savings among women have...

Time runs out to open a help-to-buy ISA

Help-to-buy ISA providers are reporting a last-gasp surge to open the government-backed savings vehicle before it closes for good. Launched in December 2015, the help-to-buy ISA allows first-time buyers to deposit up to £1,000 and save up to £200 a month. Savers get a...

Complex taper catches out high earners

High earners could face large tax bills if they fail to declare pension contributions on their 2018/19 tax returns, according to a report. When completing self-assessment, taxpayers are asked if they have put money into a pension scheme above the annual pensions...