From Cash to Lifetime ISA?

I'm about to receive a larger sum of money from my Mum. I was thinking putting the money in Cash and Lifetime ISA to maximalise the benefits.
At the start I'd put 4k on the Lifetime ISA to get the 25% bonus and the rest in the Cash ISA.
In the following years I'd move 4k to the LISA from the Cash ISA each year.

I read all the guides but I need confirmation if I'm right, that it's possible to withdraw the 4k every year from the Cash ISA to my bank account and just invest it in the LISA?

Comments

  • masonic
    masonic Posts: 23,271 Forumite
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    You can do that. The £4k moved in this fashion would count towards your annual allowance in the tax year it is moved. If you want to avoid that, you'd need to request a partial ISA transfer.
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