Can I open a new stocks & shares ISA and LISA in the same financial year?
18 January 2022
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Question by Zoe
Can I open a new stocks and shares ISA as well as a lifetime ISA in the same financial year?
Answered by
Yes, you can open a new stocks and shares ISA as well as a Lifetime ISA in the same financial year.
However, the £4,000 maximum you can contribute into the Lifetime ISA forms part of your overall £20,000 ISA allowance.
For example, if you fully maximise your Lifetime ISA of £4,000 for the 2021/22 tax year, you will only be able to contribute a maximum of £16,000 into your stocks and shares ISA for the 2021/22 tax year.