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Lifetime ISA Deposit into Another LISA within the same Financial Year

Answer
FYSX
Posted Tue, 28 May 2024 09:22:10 GMT by FYSX
Hi, I have transferred a cash LISA from one provider to another and have made a small deposit into the transferred LISA. With the changes in the 2024/25 ISA rules does this allow for opening another LISA account and depositing additional funds into that account within the same financial year? From my understanding, once you have started depositing into one LISA, you are not allowed to deposit into a different LISA within the same financial year. Can anyone advise?
HMRC Admin 19 Response
Posted Fri, 31 May 2024 15:25:33 GMT by HMRC Admin 19 Response
Hi,

You are still only able to have one lifetime ISA.

Thank you.

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