Companies providing HTB ISAs

colsten

Announced today, the first 6 companies committed to offering an HTB ISA from December 1

https://twitter.com/hmtreasury/status/641592468555739143

King_Nothing

I have an ISA already, but want a HTB ISA on Dec 1st, currently have nothing in my ISA, but have paid in about £1200 this tax year, anyone know if I'll have problems closing down my current ISA and transferring to a HTB, or should I close my current ISA now?

colsten

The rules aren't entirely clear yet but it looks you are not allowed to pay into a normal in the same tax year as you pay into an HTB ISA. Whether you can transfer an existing small ISA with less than £1,200 into an HTB ISA, I don't know. Closing an ISA does not erase the records that say you paid into an ISA in 2015-16.

An exception might be at Nationwide, who are able to manage several of their products as one ISA. You would need to ask them closer to December.

King_Nothing

Yeah, only them will know the full details just have to wait and see, just annoying if it's made diffucult, when it was announced after the new tax year, if I'd known about it beforehand I wouldn't have opened or paid into a regular ISA. Just hope it's a simple process.