Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    • Dangerous_Dave2k
    • By Dangerous_Dave2k 9th Mar 18, 7:24 AM
    • 80Posts
    • 17Thanks
    HTB ISA to LISA - should I have done it already?
    • #1
    • 9th Mar 18, 7:24 AM
    HTB ISA to LISA - should I have done it already? 9th Mar 18 at 7:24 AM
    I have an HTB ISA in Barclays which was opened with the maximum amount about a year ago, and was topped up with the maximum £200 per month ever since. It probably has about £3600 from me in it.

    I've decided I want to open a LISA (prospective 1st time home buyer) with Skipton. Reading around, I'm starting to get an inkling that there was a particular strategy I should have pursued to get the maximum benefit from both accounts. Can somebody explain to me what this is, and have I missed the deadline?

    Thanks for any replies.
Page 2
    • ValiantSon
    • By ValiantSon 9th Mar 18, 11:29 PM
    • 1,287 Posts
    • 1,045 Thanks
    The rules relate to when the transfer occurs rather than when it was requested. ISA managers are given 30 days to complete a transfer. Tricky.
    Originally posted by Alexland
    I don't necessarily disagree.
    • Dangerous_Dave2k
    • By Dangerous_Dave2k 10th Mar 18, 12:12 AM
    • 80 Posts
    • 17 Thanks
    Well for it doesn't complete in time there is the danger it will be treated as a HTB to LISA transfer under the rules applying next tax year in which case the HTB ISA balance would count towards the £4k contribution allowance for that year.
    Originally posted by Alexland
    Just wanted to query if you're discussing an additional risk here - am I right in thinking my worst case scenario right now is that the HTB ISA doesn't transfer in time, and therefore I just have my £4000 allowance for 17-18 and my £4000 allowance for 18-19 (of which the HTB money will then form a part)?
    • Alexland
    • By Alexland 10th Mar 18, 10:45 AM
    • 2,040 Posts
    • 1,450 Thanks
    Yes the risk is that if your previous tax year HTB balance transfer date is considered to be in next tax year then it would reduce the £4000 you can contribute next tax year. You would still be able to contribute £4000 this tax year.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

106Posts Today

1,406Users online

Martin's Twitter