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  • FIRST POST
    • Ashen
    • By Ashen 5th Jan 18, 10:05 PM
    • 370Posts
    • 259Thanks
    Ashen
    H2B to LISA transfer form query
    • #1
    • 5th Jan 18, 10:05 PM
    H2B to LISA transfer form query 5th Jan 18 at 10:05 PM
    Hi,

    I'm currently transferring my H2B to a S&S LISA, whilst keeping it open with a small amount (to keep saving into in future). However, I've noticed this statement, directed at what would be the 'H2B manager', on the transfer form (from AJ Bell):

    "To the existing manager. Regular savings: Please stop the collection of any regular savings plan with immediate effect, if the transfer will include subscriptions paid to my Help to Buy ISA in the current tax year".

    I'm a bit confused by this - why exactly do these need to stop? If you can contribute to both in 2017-18, to a max of £4000, surely I can continue with my £200 a month deposits to my H2B ISA this year even after I've transferred most of it to a LISA? Or am I missing something?
    Last edited by Ashen; 05-01-2018 at 10:08 PM.
Page 1
    • eskbanker
    • By eskbanker 6th Jan 18, 12:14 AM
    • 6,048 Posts
    • 6,050 Thanks
    eskbanker
    • #2
    • 6th Jan 18, 12:14 AM
    • #2
    • 6th Jan 18, 12:14 AM
    I agree with you - further contributions should stop if you were transferring to another HTB or cash ISA but if you're transferring to a LISA (i.e. a different type of ISA) then there shouldn't be anything stopping you from continuing with the HTB, as many plan to do.

    Probably a moot point anyway in that I'm not aware of any HTB ISAs where funding is 'collected' by the manager (presumably by DD) rather than sent by the saver, but I could be wrong on that....
    • Ashen
    • By Ashen 6th Jan 18, 1:31 AM
    • 370 Posts
    • 259 Thanks
    Ashen
    • #3
    • 6th Jan 18, 1:31 AM
    • #3
    • 6th Jan 18, 1:31 AM
    Probably a moot point anyway in that I'm not aware of any HTB ISAs where funding is 'collected' by the manager (presumably by DD) rather than sent by the saver, but I could be wrong on that....
    Originally posted by eskbanker
    I had previously been interpreting it in a different way - for example, if when setting up the H2B ISA, if the process asks me to set up a regular standing order to fund the ISA monthly, then I was thinking that would be a 'regular saving plan' - however I do see your point in terms of the word 'collection'.
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