Savings (Government Contributions) Act 2017 section Sch 1 para 4

Repayment of bonus amounts paid in error

Schedule 1 paragraph 4 gives the Treasury the power to make regulations requiring repayment of any government bonus that was paid when it should not have been.

• The Treasury can make regulations requiring repayment of any Lifetime ISA government bonus that was incorrectly paid
• Regulations may specify who is liable to repay, which could include the account holder, the ISA manager, or other relevant parties
• Interest may be charged on amounts that are due to be repaid
• Collection mechanisms can draw on existing income tax or capital gains tax recovery procedures, adapted as necessary