ISAs for 16 year old - Junior Cash ISA & Help to Buy ISA

duckscrossing

Hi, can my 16 year daughter open a junior cash ISA and a Help to Buy ISA in the same year?
I have seen conflicting reports that suggest it is / isn't possible due to an anomaly in ISA regulations for 16-17 year olds. I opened a £4k Tesco Junior Cash ISA (3%) last week and planned to opened a Help to Buy ISA to take advantage of the initial £1200 injection this year, then after April 2017, start saving £200 per month and also open another Junior Cash ISA.
She has already maxed out on a Nationwide Savings smart access savings account so I want to take advantage of any ISA allowances.
Any clarity would be most appreciated please.

xylophone

also open another Junior Cash ISA.

https://www.gov.uk/junior-individual-savings-accounts/open-an-account

"Your child can only have:

1 cash Junior ISA"

Do you mean that you will make the full subscription to the Tesco Junior Cash ISA for 2017-18?

With regard to the rules for 16 year olds and adult isa, a 16 year old could have both.

http://moneyfacts.co.uk/tips/savings/junior-isa-loophole-for-16-and-17-year-olds020212/

If the HTB is regarded as the "adult" ISA then it would seem that it can be opened in the same year as the JISA.

But see http://www.moneysavingexpert.com/savings/help-to-buy-ISA

Once children are 16 they can get a Help to Buy ISA and, if you're looking to help them in future, it's a potentially lucrative way to do it. You can then give them money to put in it and, if they later use it for a deposit, they get the 25% added on top. However, they must open the account, not you.

And as I'll explain below, if they decide not to use it for a property, they still get the cash and the interest out, just not the extra 25% on top.

Can 16 & 17 year olds have a Help to Buy ISA and a Junior ISA at the same time?
We checked this with HMRC and it told us that just as you can have a 'normal' cash ISA and a junior ISA at the same time if you're aged 16 or 17, the same applies with a Help to Buy ISA.

However, you must open the Help to Buy ISA yourself in your own name - a parent can't do it for you.

duckscrossing

Very useful answer.
Yes, my daughter make the max subscription to the Tesco Junior ISA allowance for next year after April. I should have been more specific.
I will check out the links as you suggest.
Great news that she can have the JISA and HTB ISA at the same time if she opens the HTB ISA herself.
Thank you.