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Help to buy ISA hiccup
SKIPPY
Posts: 298 Forumite
Son has just made a boo boo and transferred 70 into his help to buy isa instead of his current account. It's a few days before he should be paying in the monthly 200 - has he messed up his chances of getting the bonus now or can he just transfer in the remaining 130 when its due?
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Comments
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Son has just made a boo boo and transferred 70 into his help to buy isa instead of his current account. It's a few days before he should be paying in the monthly 200 - has he messed up his chances of getting the bonus now or can he just transfer in the remaining 130 when its due?
You need to read the T&C's of the bank he has his HtB ISA with...
Different banks have different rules, so you need to check."If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)0 -
I would contact the bank to see what they think. DONT withdraw it for now. It may affect the bonus. I would probably still pay in the £200 for now too as the extra money was put in in the wrong month for that next payment.
According this this article in the Telegraph about ISAs in general, it states you need to contact HMRC to flag ISA overpayments. It is HMRC who will spot the overpayment if you didn't. The ISA needs to be 'repaired' by a refund from HMRC I think.Anything I say in no way constitutes financial advice and anything you do is your own decision.0
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