ISA transfer timing

Sambelina

Hi,
I have a HTB ISA with Halifax that is now full up in terms of earning bonus, but I'm not ready to buy a house for a couple of years yet. Im looking to open a lifetime ISA before this tax year ends, and start to transfer the HTB balance over to it in the hope of getting a bigger bonus. I understand that I can only do this £4000 at a time, so Im hoping I can set it all up in time to transfer £4000 before April 6th, another £4000 next week in the new tax year, and the final £4000 next April, so just over a year for the lot. 
Am I too late to do this? When I've read about transfers, it seems to suggest that transferring into cash ISAs will take 2 weeks - will the money count as being in there from the moment I apply to transfer it (ie. in this tax year), or in two weeks time (in the new tax year) when it lands in the new account? If it is too late, can I just withdraw £4000 from my HTB ISA immediately and transfer it into the new account instantly, rather than a formal ISA to ISA transfer? Can I do any of this at the weekend or will that impact on transfer timings? Finally, many of the accounts state that they don't accept transfers in - presumably with them I can still withdraw from the HTB ISA to a current account and then onto the new account? I dont see any reason why I would need to preserve the tax free status?
Thanks for any help you can offer!

xylophone

https://www.helptobuy.gov.uk/help-to-buy-isa/faq/

  https://moneyfacts.co.uk/isa/lifetime-isas/

Tax year ends on Sunday - even if transfer in accepted it seems you'll have missed the boat?

Sambelina

Hi xylophone, Thanks for yout help. I dont mean to seem lazy but there is a lot of information on those two websites, and Im juggling a baby and 6 year old, neither of whom want to sleep. Not your problem I know, but is there a particular part of either page you could guide me towards?

Alexland

If you want to get the £1k LISA bonus in relation to this tax year then it's probably too late to do a partial ISA transfer between your HTB ISA and a new LISA. The money would arrive next tax year and likey be treated as a next tax year bonus claim.

As such the only option left would be to withdraw £4k from your HTB ISA (unless you have some easy access money elsewhere?) to deposit in a LISA (assuming you have £4k of your £20k ISA allowance for this tax year remaining). However even this is very tight now and assumes the withdrawal is near instant (maybe check with a token amount first).

Unfortunately the highest interest Cash LISA provider Moneybox has already closed the door to contributions related to this tax year. I can't see any information about early deadlines on the Skipton or Nottingham BS websites so they might still be OK.

Hargreaves Lansdown are very clear that they are still accepting LISA contributions right up to the deadline so you might be better opening a S&S LISA, adding the £4k cash, not investing the money, waiting a couple of months for the bonus to be added and then ISA transfering the account to the best rate Cash LISA.

All this is very late notice so at risk of not working. Maybe setup the new LISA account with a token payment first before doing the main HTB ISA withdrawal for the difference in case things get delayed with identity verification etc.

Alex