S&S ISA/LISA

[TheZeppo]

I know you’re only allowed to pay into one stocks and shares ISA per financial year, but I was wondering if that applied to LISAs?

I have a LISA S&S already and very recently opened a ‘normal’ S&S ISA. Can I pay into both? 16k and 4K? Or does the rule still apply?

You can pay into one of each type, the total cannot be more than £20k. So yes, £4K LISA and £16k S&S ISA is ok.

You can only open one of each type each year and put your new money into that but you can leave old ISA money in an ISA and open a new one elsewhere - you don't have to transfer it.

Ace, thank you!