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Flexible ISA to Lifetime ISA query
Ashen
Posts: 594 Forumite
AJ Bell have just opened up transfers from non-Help To Buy ISAs to Lifetime ISAs, so looking to do the following - if there's no reason I can't.
Firstly, I opened a flexible TSB ISA earlier this tax year - mid April - by transferring in another ISA, then withdrew most of it to my bank account.
Can I now retop it up to most of the previous balance and then:
a) Transfer approx £2600 to my Lifetime ISA to max the £4000 LISA allowance (£1400 paid in earlier)
b) Transfer the remainder to my S&S ISA.
Thanks for any advice
Firstly, I opened a flexible TSB ISA earlier this tax year - mid April - by transferring in another ISA, then withdrew most of it to my bank account.
Can I now retop it up to most of the previous balance and then:
a) Transfer approx £2600 to my Lifetime ISA to max the £4000 LISA allowance (£1400 paid in earlier)
b) Transfer the remainder to my S&S ISA.
Thanks for any advice
0
Comments
-
Sure you can put the money back into a flexible ISA without using more of your £20k annual contribution limit.
However any ISA contributions from this tax year (that are in the account at the point of transfer) would need transfering in whole to the next provider but respecting the annual LISA limit.
So you cannot transfer current year contributions from one ISA to multiple ISAs.0
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