I already have an easy access cash isa with Monzo/ Oaknorth that I’m regularly paying into.
Just wondering if someone could help explain if I can pay into my easy access cash isa regularly this tax year and pay into the MoneyBox cash lifetime isa: https://www.moneyboxapp.com/cash-lifetime-isa/
I’m aware that you can only pay into one of each type of ISA each tax year which the gov.uk website states are cash, stocks and shares, innovative finance and lifetime.
I’m confused as the MoneyBox account is named as a cash lifetime, whether I actually can pay into this tax year because I already have a easy access cash isa with monzo/ oaknorth that I’m paying to this tax year?
MoneyBox states: Under existing ISA rules, you can pay into one of each kind of ISA per tax year (so a cash ISA – this includes a Help To Buy ISA, a Stocks & Shares ISA and a Lifetime ISA). The limit for the Lifetime ISA is £4,000 per tax year and the total, overall ISA limit is £20,000 for the tax year of 2019/20.
Can anyone help clarify the situation ?