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LISAs
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Polly05
Posts: 379 Forumite


So last year I opened a cash LISA (for retirement) and a Stocks and shares ISA.
I've decided that this tax year, I won't pay into the cash LISA anymore. But want to open a S&S LISA instead.
So going forward, I'll pay into the S&S LISA and the normal S&S ISA.
Thats allowed, isn't it?
Thanks!
I've decided that this tax year, I won't pay into the cash LISA anymore. But want to open a S&S LISA instead.
So going forward, I'll pay into the S&S LISA and the normal S&S ISA.
Thats allowed, isn't it?
Thanks!
0
Comments
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Yes, S&S LISAs and S&S ISAs are different types so you can pay into both concurrently.
A cash LISA is an odd choice for retirement money (given the overwhelming likelihood of real-terms value loss to inflation) so you'd probably be best transferring that into the S&S LISA....0 -
Yes that is allowed as Lifetime ISA (whether cash or S and S) and stock and shares ISA are different types of ISA.
Limits are a) £4000 contribution limit to LISA, b) £20,000 contribution limit across all ISA types per tax year.
If you have contributed more than a token amount to the cash LISA would probably sensible to look into transferring to S and S LISA.0 -
grumiofoundation said:Yes that is allowed as Lifetime ISA (whether cash or S and S) and stock and shares ISA are different types of ISA.
Limits are a) £4000 contribution limit to LISA, b) £20,000 contribution limit across all ISA types per tax year.
If you have contributed more than a token amount to the cash LISA would probably sensible to look into transferring to S and S LISA.0 -
Polly05 said:grumiofoundation said:Yes that is allowed as Lifetime ISA (whether cash or S and S) and stock and shares ISA are different types of ISA.
Limits are a) £4000 contribution limit to LISA, b) £20,000 contribution limit across all ISA types per tax year.
If you have contributed more than a token amount to the cash LISA would probably sensible to look into transferring to S and S LISA.
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Slight divergence but can anyone tell me why there is a limit of £450,000 on the cost of a property and is this subject to change i.e. as house prices increase?
Thanks0 -
Stig66 said:Slight divergence but can anyone tell me why there is a limit of £450,000 on the cost of a property and is this subject to change i.e. as house prices increase?
Thanks
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Cheers for that... appreciate your input.0
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