SI 2020/506 – The Individual Savings Account (Amendment No. 3) (Coronavirus) Regulations 2020

Released 14 May 2020

SI 2020/506 amends SI 1998/1870 to provide for the Lifetime ISA withdrawal charge to be reduced to 20% from 6 March 2020 to 5 April 2021.

The Individual Savings Account (Amendment No. 3) (Coronavirus) Regulations 2020 amend the Individual Savings Account Regulations 1998 (SI 1998/1870) to provide for the withdrawal charge in respect of a Lifetime ISA for the period beginning on 6 March 2020 and ending on 5 April 2021 to be reduced from 25% to 20%. The regulations come into force on 4 June 2020

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