Help To Buy ISa + Cash ISA Same Year?

beforeitstoolate

Hi , is it possible to contribute to a help to buy ISA and Cash isa in the same tax year?


Natwest who holds my Help to buy ISA said it was possible but the person I phone did not sound too convincing and it seems to go against what
I have read online.

I currently hold a ISA with Coventry Building Soceity which pays 1.3% and the Help to buy with Natwest who hold my soletrader business account .

I was going to put some money in a s&s isa but decided against it as I may need the money if a house comes up for sale.

Any help would be appreciated.

Rich2808

Yes - but only with split isa providers like RBS/Natwest, Aldermore and Nationwide. Ford money is also a split isa provider but they don't have an HTB isa product.

https://personal.natwest.com/personal/savings/isa-overview/help-to-buy-isa.html

You could not pay into a Coventry cash isa and a Natwest Help to buy isa - but you could pay into a Natwest cash isa and Natwest Help to buy isa in the same taxyear. You can pay into a lifetime isa and a help to buy isa (or an innovative finance peer to peer lender isa) though with any provider - although only Skipton has a cash lifetime isa at present.

beforeitstoolate

Thanks for the information . So could I open a cash ISA with Natwest ( even though the rate is very poor ) this TAX year and then Transfer it into Coventry the next ?

I just do not want to loose the allowance for this year .

Was looking at S&S isa but do not want to tie up any money long term at the moment whilst looking for a property.

Rich2808

beforeitstoolate wrote: »

Thanks for the information . So could I open a cash ISA with Natwest ( even though the rate is very poor ) this TAX year and then Transfer it into Coventry the next ?

I just do not want to loose the allowance for this year .

Was looking at S&S isa but do not want to tie up any money long term at the moment whilst looking for a property.

Yes - assuming your help to buy isa is with Natwest.

Pay into it before 5 April using your 2017-18 allowance - and then move some or all of it to the Coventry from 6 April.

You could also consider the moving your HTB isa to the Nationwide - if you wish to do the same next tax year - as they pay better cash isa rates at present.

beforeitstoolate

Thanks again for the information , it's much appreciated .

s