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    Is it possible to transfer one LISA account with a balance in excess of £4,000?

    13 October 2022

    Question by Charlotte

    Is it possible to transfer one LISA account with a balance in excess of £4,000 into an existing LISA account?

    If so, is it also possible to open a new LISA in the same financial year and pay in the full allowance of £4,000?

    Answered by Boring Money

    Hello Charlotte,

    Yes you can consolidate a previous year LISA with a LISA that has been set up this year. The fact that it is over £4,000 is not a problem. You can only have one LISA allowance per year however so in effect you can only put £4,000 of new money into your LISA in one tax year.

    If you need to chat feel free 15 minute chat appointment with me via the link below :-)

    https://calendly.com/maryrosewoodfinancialplanning

    Mary

    Answered by

    Boring Money

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    Important stuffHolly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice. For every story on this website about a good investment, or something which went up by 10% or made someone £200, we could also share a story about a bad investment, something which fell in value or lost someone £200. We aim to provide general information and pointers – and btw we are totally agnostic about which providers you might pick – but if you have complex affairs, want personalised advice or need specific recommendations, please look at advice pages and see if regulated digital or traditional financial advice would be the best solution for your needs. Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
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    Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
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