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Topic: UK LISA (Lifetime ISA)  (Read 1616 times)

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UK LISA (Lifetime ISA)
« on: April 05, 2019, 10:13:16 AM »
As a US citizen paying US taxes who is a resident of the UK:
1) I think I can enroll in a UK LISA (Lifetime ISA) because I am a resident. However, I'm not sure that I should. What are the pros/cons? Pros: get 25% bonus from the UK government, Cons:??? Not part of tax treaty probably? But even if it is taxed, is the 25% bonus worth it?
2) If it makes sense to get a UK LISA as an American, what is the best provider to go with (and do they serve Americans)?

Thanks so much!!


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Re: UK LISA (Lifetime ISA)
« Reply #1 on: April 05, 2019, 01:53:51 PM »
I don't know about LISA's as I'm not eligible anyway, but regular ISAs have no blanket USA citizen restrictions although some banks offering them may have.

Like the ISA I'm such the LISA will have the interest taxable by the IRS like all interest. However, with a 25% contribution from the UK government it still seems like a good deal to me.

Note.
Stick with Cash ISAs,  not stocks and shares as they will be taxed by the IRS as PFICs.
Dual USC/UKC living in the UK since May 2016


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Re: UK LISA (Lifetime ISA)
« Reply #2 on: April 05, 2019, 04:55:55 PM »
Following for info! My husband and I just opened a Help to Buy ISA to help us save for our first home

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