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  • FIRST POST
    • jessicakdp
    • By jessicakdp 20th Apr 17, 4:46 PM
    • 5Posts
    • 0Thanks
    jessicakdp
    Paying into Help to Buy ISA then transferring into a Lifetime ISA
    • #1
    • 20th Apr 17, 4:46 PM
    Paying into Help to Buy ISA then transferring into a Lifetime ISA 20th Apr 17 at 4:46 PM
    Hi,
    I've currently got a Help to Buy ISA which I pay into every month. I won't buy a house within the next year so want to set up a Lifetime ISA when the cash ones are released, which I will transfer my Help to Buy ISA into. I know that you can only pay into 1 ISA each year so can I pay into my Help to Buy ISA in May then set up a Lifetime ISA which I will transfer my Help to Buy into and pay into that? I hope that makes sense!!
    Thank you
Page 1
    • isasmurf
    • By isasmurf 20th Apr 17, 5:36 PM
    • 1,719 Posts
    • 738 Thanks
    isasmurf
    • #2
    • 20th Apr 17, 5:36 PM
    • #2
    • 20th Apr 17, 5:36 PM
    Yes.


    Any contributions made to the HTB in 17/18 that are transferred to the LISA will count towards the LISA allowance.
    • Eco Miser
    • By Eco Miser 20th Apr 17, 8:46 PM
    • 2,894 Posts
    • 2,681 Thanks
    Eco Miser
    • #3
    • 20th Apr 17, 8:46 PM
    • #3
    • 20th Apr 17, 8:46 PM
    I know that you can only pay into 1 ISA each year
    Originally posted by jessicakdp
    Not actually true. You can only pay into 1 cash ISA (including HTB), 1 S&S ISA, 1 LISA and 1 IFISA each year, to a combined maximum of £20000. That's four ISAs in one year.
    And yes, you can keep paying into the HTB until the LISA is available. Make sure you do the transfer before next April, so that your HTB balance at 5th April, but not anything paid in after that, is in addition to the £4000 LISA allowance.
    Last edited by Eco Miser; 20-04-2017 at 10:42 PM. Reason: rewording slightly for accuracy
    Eco Miser
    Saving money for well over half a century
    • jessicakdp
    • By jessicakdp 21st Apr 17, 4:34 PM
    • 5 Posts
    • 0 Thanks
    jessicakdp
    • #4
    • 21st Apr 17, 4:34 PM
    • #4
    • 21st Apr 17, 4:34 PM
    Thank you for your help
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