I’ve opened a vanguard s&s isa - can I still open a lifetime isa?

guitaro

Hey guys, last month I opened a stocks and shares isa with Vanguard. 

Would I also be able to open a stocks and shares life time isa with a different provider? Vanguard don’t do one! For my Googling, the answer might be yes but I’d be be the £20,000 limit shares between the two? Would be great if so! 

Many thanks!

Nurse2047

Yes you can, you can pay £4000 into a LISA and £16000 into S+S ISA

grumiofoundation

Yes. 

You can open, and contribute (pay in new money) to a cash, a stocks and shares, a innovative finance and a lifetime ISA each tax year. 

Whether lifetime ISA is cash or stocks and shares makes no difference as lifetime is it’s own type of ISA. 

 

Limit £20,000 across all these ISA types (limit of LISA is £4,000 per tax year). 

guitaro

Thank you! That’s brilliant. 

I’m just going to be buying vanguard funds in it for now I think, is there a service anyone would recommend for that where I can do it in the stocks and shares life time isa?

Thanks a lot!

Alexland

guitaro said:

I’m just going to be buying vanguard funds in it for now I think, is there a service anyone would recommend for that where I can do it in the stocks and shares life time isa?

For a small LISA account you could hold Vanguard funds with Hargreaves Lansdown who charge 0.45% or for a larger account you would be better with AJ Bell YouInvest who charge 0.25% but charge an extra £1.50 per fund trade. Eventually when the accounts get bigger they both cap their charges if switching to exchange traded investments such as ETFs (in which case AJ Bell have a lower cap) but those trade fees tend to be higher (circa £10+) although there is a neat trick with AJ Bell where if you schedule the trade in advance you can get it for the same £1.50 as they charge for a fund trade.

tacpot12

MFW2026 said:

Yes you can, you can pay £4000 into a LISA and £1600 into S+S ISA

Please note that there is a type here ^

If you put the  maximum of £4,000 into a LISA, you can put another £16,000 into a S&S or cash ISA. 

grumiofoundation

tacpot12 said:

MFW2026 said:

Yes you can, you can pay £4000 into a LISA and £1600 into S+S ISA

Please note that there is a type here ^

If you put the  maximum of £4,000 into a LISA, you can put another £16,000 into a S&S or cash ISA. 

^please note there is a typo here! 

Could easily be read in misleading way. 

It’s not either/or.

If someone pays £4,000 into LISA they can then pay £16,000 into a combination of cash, stocks and shares (and innovative finance) ISAs.