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I have a Hargreaves Lansdown LISA and am concerned that the £450k limit may be too restrictive in the future as I am not planning to buy any time soon (and I am living in London). Since the withdrawal charge has been reduced to 20%, now would probably be the best time to make the change.

I also have a Stocks and Shares ISA that I would like to move the money to -- can this be done without the LISA money counting against my annual ISA allowance?

UPDATE: Hargreaves Lansdown support confirmed they do not support such a transfer directly, however Skipton Building Society seem to support transferring a Lifetime ISA to their Cash ISA without affecting the annual ISA limit, which I can then transfer back to my HL Stocks and Shares ISA. Once I have tested this I will confirm in an answer

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  • Can you please confirm if the above worked? Thanks, Jasan – Jasan Feb 17 at 4:26
  • @Jasan I didn't go through with it in the end, but it was looking like it would have worked -- I have left my findings as an answer – dippynark Feb 17 at 10:39
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Copying the question update:

Hargreaves Lansdown support confirmed they do not support such a transfer directly, however Skipton Building Society seem to support transferring a Lifetime ISA to their Cash ISA without affecting the annual ISA limit, which I can then transfer back to my HL Stocks and Shares ISA. Once I have tested this I will confirm in an answer

I ended up submitting the paperwork to make the initial transfer from my HL Lifetime ISA to a Skipton Cash ISA, but cancelled it at the last minute after deciding I wanted to keep my Lifetime ISA. However, from speaking to both HL and Skipton on a number of occasions I was confident this would have worked had I gone through with it.

I would of course suggest asking yourself again as it could be a costly mistake. In addition, I asked HL to leave a note for the transfer team to make sure Skipton transferred my Lifetime ISA (and not my Stocks and Shares ISA) since the account identification for HL is just a client ID which is the same for both ISAs.

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