ISA rules- stocks and shares and LISA

ClaphamPoppy

Hi,

I have a Stocks and Shares LISA (lifetime ISA) with Nutmeg which I put money into regularly and set up a few years ago. I have a general account with Vanguard (VUSA) and I want to open a general stocks and shares ISA (not a LISA) within Vanguard. 

Am I allowed to pay into both a stocks and shares LISA as well as a stocks and shares ISA? 

I know I can’t pay into 2 stocks and shares ISAs at one time, but I am not sure if a LISA counts in this case. 

Any advice on this would be much appreciated. 

Thanks 

eskbanker

A Lifetime ISA (whether cash or S&S) is a different type of ISA from a S&S one, so yes, you can pay into both concurrently:

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.

https://www.gov.uk/individual-savings-accounts