Savings (Government Contributions) Act 2017 section Schedule 1 para 3

Claiming government bonuses on Lifetime ISA contributions

Schedule 1 paragraph 3 sets out the framework for how government bonuses on Lifetime ISA contributions are claimed, including who must make the claim, the process for doing so, and what happens if a claim is rejected.

• Government bonuses are only payable if a formal claim is made in accordance with Treasury regulations, and it is the plan manager (not the individual saver) who is required to submit the claim.
• Treasury regulations may specify detailed requirements for claims, including time limits, the information to be provided, the periods the claims cover, and the format in which claims must be submitted.
• If a claim is rejected in whole or in part, the regulations may set out the steps to be taken, including rights to request a review and to appeal against the rejection.
• HMRC may be given authority to specify certain practical details of the claims process, such as what information is needed, which periods claims should cover, and how claims should be submitted.