LISA and Cash ISA in the same year

rkelly

Hi,
In the same tax year - If i put the max £4K in a LISA, can you still put the max 20K in a Cash ISA or would be max £16K in the Cash ISA.

Reason I ask is last year i topped up LISA to 4K, but ISA provider was still showing as 20K still available to pay in, presume the ISA providers are not linked to LISA funding, but the rules for 4K LISA and 16K Cash ISA would apply in this scenario?

ColdIron

£4,000 and £16,000

masonic

Providers will always show £20k less what they know you've paid in as your available allowance. It does not mean it is actually true. This is of even greater importance to understand now that you can subscribe to many different cash ISAs in a single tax year. If the ISAs are with the same provider, they ought to be able to show an accurate figure, but it would not surprise me one bit if they don't.