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    • rmrobert
    • By rmrobert 9th Jun 17, 5:59 PM
    • 2Posts
    • 0Thanks
    rmrobert
    LISA and HTB - I've confused myself.
    • #1
    • 9th Jun 17, 5:59 PM
    LISA and HTB - I've confused myself. 9th Jun 17 at 5:59 PM
    Good afternoon all,

    I have a HTB which I've contributing into for a while.

    I don't know if I'll be buying within a year. ( I wanted too, and I could, but may hold off)
    I don't know if it'll be under 250k. Prefernce would be >250k as the area is very expensive.

    Can I open a LISA and put £1 in to start the 12 month clock?
    And then pour the HTB in to it at the end of this tax year?

    Or do I need to wait until April to open one? I have paid into the HTB this year .

    Any advice much appreciated. I think I confused myself with Martin's article from the start of the year.

    Many thanks.
Page 1
    • eskbanker
    • By eskbanker 9th Jun 17, 6:14 PM
    • 5,592 Posts
    • 5,428 Thanks
    eskbanker
    • #2
    • 9th Jun 17, 6:14 PM
    • #2
    • 9th Jun 17, 6:14 PM
    Yes, you can open a LISA now to get the clock ticking - this would allow you to use any contents for a property purchase from June 2018 onwards.

    The fact that you've already been contributing to a HTB ISA this year isn't a problem, you can pay into multiple different types of ISA in any given, just not multiple accounts of the same type.

    You can keep your options open by waiting until the end of the tax year before deciding whether to transfer your HTB into the LISA - if you buy before then you'll use the HTB, but if you transfer into the LISA then you can use the bonus-enhanced funds for a property valued at up to £450K anywhere in the UK.
    • Chapuys
    • By Chapuys 9th Jun 17, 6:28 PM
    • 131 Posts
    • 105 Thanks
    Chapuys
    • #3
    • 9th Jun 17, 6:28 PM
    • #3
    • 9th Jun 17, 6:28 PM
    1. Keep paying into your HTB ISA.
    2. Put £1600 into your LISA (no more).
    3. Next February/March transfer the HTB ISA across to the LISA as your contributions to the HTB ISA this financial year will fill the £2400 gap in the LISA (you can't claim the 25% bonus on both).
    4. Top up anything if you transferred early.
    Last edited by Chapuys; 09-06-2017 at 6:35 PM.
    Anything I say in no way constitutes financial advice and anything you do is your own decision.
    • rmrobert
    • By rmrobert 9th Jun 17, 7:37 PM
    • 2 Posts
    • 0 Thanks
    rmrobert
    • #4
    • 9th Jun 17, 7:37 PM
    • #4
    • 9th Jun 17, 7:37 PM
    Great thanks.
    In that case I'll open one. But I won't out the 1600 in as that'll become locked in right if I don't transfer.
    Many thanks.
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