LIFETIME ISAS
Lifetime ISAs, children, and inheritance tax
Can I contribute to my child’s Lifetime ISA?
Yes, you can contribute to your child’s, grandchild’s or anyone else’s Lifetime ISA.
Lifetime ISAs can be a great way of providing a nest egg for your children or grandchildren while you are still living. They are less accessible than a traditional ISA, and so offer some built-in protection from unwise spending.
What are the inheritance rules?
The inheritance rules for the Lifetime ISA are the same as all other types of ISA.
Can I minimise inheritance tax by paying into a Lifetime ISA?
Potentially yes, if you set up your contributions to someone’s Lifetime ISA as regular payments and they’re regarded as gifts for inheritance tax purposes. For more information, read our article how to (almost) double your children’s inheritance.