Introduce a Home Ownership Savings Account with tax relief for first-time buyers
Introduce a Home Ownership Savings Account with tax-relief for first-time buyers, allowing them to save part of their pre-tax income in a ring-fenced account for a home buying deposit. Funds could then be taxed only if withdrawn for non-eligible use.
Steve Reed
Housing Secretary
Similar motions
Keep Lifetime ISA for retirement savings & make a new ISA for first time buyers
Increase the current Personal Savings Allowance (PSA) from £1000 to £3000
Increase the personal tax allowance for single adult households to £15,000
Abolish stamp duty for cohabiting couples who split & buy share of co-owned home
Increase the personal tax-free allowance to £26000
Introduce a Home Ownership Savings Account with tax relief for first-time buyers
Introduce a Home Ownership Savings Account with tax-relief for first-time buyers, allowing them to save part of their pre-tax income in a ring-fenced account for a home buying deposit. Funds could then be taxed only if withdrawn for non-eligible use.
Similar motions
Keep Lifetime ISA for retirement savings & make a new ISA for first time buyers
Increase the current Personal Savings Allowance (PSA) from £1000 to £3000
Increase the personal tax allowance for single adult households to £15,000
Abolish stamp duty for cohabiting couples who split & buy share of co-owned home
Increase the personal tax-free allowance to £26000