Rejected petition Temporarily Reduce the LISA withdrawal penalty from 25% to 20% for 7 days.

Due to COVID some people's situation has changed hugely, they may need money previously put into a LISA for more immediate problems. The limit has been reduced up until the 5th April 2021, however, some people were not aware of this deadline or their situation has since changed.

This petition was rejected

Why was this petition rejected?

It’s not clear what the petition is asking the UK Government or Parliament to do.

Petitions need to call on the Government or Parliament to take a specific action.

We understand that you are concerned about people not being aware of the limited time period the withdrawal penalty for Lifetime ISAs was reduced for, but we're not sure exactly what you'd like the Government or Parliament to do. Your petition asks for the penalty to be reduced for seven days, but it's not clear what seven days you want it to be reduced for.

You could start a new petition explaining clearly what you would like the Government or Parliament to do.

We have published the following petition, which you might like to sign:

Permanently reduce the Lifetime ISA (LISA) withdrawal penalty from 25% to 20%: https://petition.parliament.uk/petitions/570826

We only reject petitions that don’t meet the petition standards.

Date submitted 1 May 2021
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