closing a htb from one tax year...

kezzygirl

Can anyone please advise as to whether this is possible? Example- Bill and Joan opened a htb isa when they first came into force. They have now closed the htb isa after transferring the funds to another account with a higher interest rate as they didnt think they would be buying yet. Things have changed, they are now ready to buy, sooner than they thought. They have each opened a new htb isa and deposited $1200 in each with a view to depositing a further $200 each month until completion of the house sale which will hopefully be in march.

Is it possible to close one htb isa.......and open another in a different tax year and then claim the bonus on their first house purchase?

eskbanker

Yes, as per https://www.helptobuy.gov.uk/help-to-buy-isa/faq/#919a24ea-e1f7-648f-8ce9-ff0000ad17aa:

If I close my account, can I open a new Help to Buy: ISA?
If you hold a Help to Buy: ISA, and close it without claiming your government bonus, you can open a new account in the following tax year (provided the new account is opened before 30 November 2019)