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
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.
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