Is a LISA it’s own category?

JakeMM

I currently have a cash LISA which I’m maxing out at £4K per year. 

I also have a stocks and shares ISA that I put any extra money into.

My original plan was to use the cash LISA for property, but my living arrangements have changed, and so I’d like to open a Stocks and Shared LISA.

1) Is it easy to transfer my Cash LISA into a Stocks and Shares LISA.

2) Is it possible to hold a Stocks and Shares LISA and a regular Stocks and Shares ISA?

Thanks

eskbanker

JakeMM said:

1) Is it easy to transfer my Cash LISA into a Stocks and Shares LISA.

Not all S&S LISA providers support this (e.g. HL), but in principle it's possible.

JakeMM said:

2) Is it possible to hold a Stocks and Shares LISA and a regular Stocks and Shares ISA?

Yes, to answer your title question they are different types, as explained at https://www.gov.uk/individual-savings-accounts

There are 4 types of ISA:

• cash ISAs
• stocks and shares ISAs
• innovative finance ISAs
• Lifetime ISAs

You can put money into one of each kind of ISA each tax year.

JakeMM

Many thanks for the reply, this was a great help!