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Posted Wed, 25 Sep 2024 07:51:18 GMT by EMH2024
I live in London and am considering buying a plot of land in Scotland. It has a residential dwelling on it but I would not be buying the dwelling, only the land. I am struggling to find out whether or not this would disqualify me from First Time Buyer status in future (eg for taxes & Help to Buy ISA).
Posted Fri, 04 Oct 2024 07:11:54 GMT by HMRC Admin 25
Hi EMH2024,
We can not comment on the qualifying conditions under the LISA, as all we deal with is the taxation of any investments.
If the investment is a LISA, then there would be no tax consequences for any interest etc.
We also can not give you any financial advice.
All we can do is point you to the guidance here:
Lifetime ISA withdrawals for a first time residential purchase
And suggest you conract your Lifetime ISA Provider. 
Thank you. 
Posted Fri, 04 Oct 2024 07:51:51 GMT by EMH2024
WarningThis post is currently being moderated and will be visible when it has been approved by a HMRC moderator.
Posted Sat, 05 Oct 2024 11:13:08 GMT by Lina Basat
WarningThis post is currently being moderated and will be visible when it has been approved by a HMRC moderator.

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