Transfer cash LISA to T212 S&S ISA?

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1

Hey

Is it possible to transfer my cash LISA from Newcastle Building Society to my T212 S&S ISA? I already have both opened

If not possible to T212, can it be done by transferring to a third-party and then to T212?

Thx

2

you can only withdraw from a LISA to buy a house or in retirement. If you make a withdraw before a defined age other than for buying a house you will have to pay back a % to the government because of the deposit bonuses paid in a LISA

3

Hmm I was thinking maybe it could be transferred while paying back the bonus, since it took up part of my ISA allowance

4

You can’t pay back the bonus from general savings if that is what you were thinking.

If you withdraw/transfer money from a LISA the LISA manager will repay 25% back to HMRC. So if you put £4,000 in the government added £1000 to that giving you £5000. The 1000 was additional to your isa allowance in that year. If you have doubled the investment and the lisa balance is now £10,000 you will pay back £2,500 to HMRC if you withdraw the 10,000 unless it is for a house purchase or you are over 60.

You should be able to transfer (cash) from LISA to share ISA but the LISA manager will repay HMRC 25% of the transfer

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