Paying into LISA and Help to Buy ISA at the same time

Monsoon9

Just a quick couple of questions about having a Help to Buy ISA and a cash Lifetime ISA at the same time. I opened a Lifetime ISA last tax year with £1 and have not done anything more with it since then. I've just opened a Help to Buy ISA and intend to make regular payments into this.

1) Can I make regular monthly payments from now into both my Help to Buy ISA *and* my cash Lifetime ISA in the same tax year? (I've read that you can't put money into a Help to Buy ISA if you put money into a normal cash ISA in the same year unless it's a split ISA, but I don't know if that's the case if it's a cash LISA?)

2) If I can pay into both at the same time in the same tax year, are they subject to a combined £20,000 limit?

Thank you!

eskbanker

Monsoon9 wrote: »

1) Can I make regular monthly payments from now into both my Help to Buy ISA *and* my cash Lifetime ISA in the same tax year? (I've read that you can't put money into a Help to Buy ISA if you put money into a normal cash ISA in the same year unless it's a split ISA, but I don't know if that's the case if it's a cash LISA?)

A LISA doesn't count as a cash ISA as it's a different type, so you can pay into both a LISA and a HTB ISA concurrently. However, you can only benefit from a 25% bonus towards a first property from one or the other, not both.

Monsoon9 wrote: »

2) If I can pay into both at the same time in the same tax year, are they subject to a combined £20,000 limit?

Yes.

Monsoon9

eskbanker - Thanks, that's great.