Opened normal ISA can i open Help to buy ISA?

daryl2015

Newbie so apologies if they has already been asked.

I opened a normal ISA this year can I open a Help to buy ISA?

colsten

I already have a cash ISA – can I open a Help to Buy: ISA too?


You can put money into a cash ISA and Help to Buy: ISA in the same tax year, but you will have to take additional steps.

If you paid into a cash ISA after 5 April 2015, to open a Help to Buy: ISA this tax year (ie before 6 April 2016), you will have to transfer your active cash ISA to a Help to Buy: ISA.

You can transfer up to £1,200 of your active cash ISA balance into your Help to Buy: ISA. Anything more than this should be moved into either a stocks and shares ISA or a non-ISA account.

Alternatively, portfolio ISAs allow you to hold multiple ISA products within a cash ISA wrapper. You can still only have one active cash ISA but it can be made up of one or more standard cash ISA products, including a Help to Buy: ISA. With a portfolio ISA, you can save into a cash ISA and a Help to Buy: ISA at the same time. The standard cash ISA and Help to Buy: ISA allowance limits will still apply.

You are able to continue to save money into a stocks and shares ISA, even if you open a Help to Buy: ISA.

- See more at: http://www.helptobuy.gov.uk/help-to-buy-isa/faq#sthash.RXYImLey.dpuf

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