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Junior Cash ISA AND Help To Buy ISA
KezzieW
Posts: 1 Newbie
Can my 17yr old pay into a Junior cash isa (Halifax 2017/18) and help to buy isa (Nationwide 2018/19)- both opened in different years? Only paid into HTB ISA since it was opened. HFX rate is much higher than other cash savings accounts(for now!)
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Comments
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I believe this is OK - the rules are normally expressed as not paying new money into multiple ISAs of each type in any tax year, rather than opening them as such, but confusingly the gov.uk guidance here talks of opening:
Children aged 16 and 17 can open their own Junior ISA as well as an adult cash ISA.
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16 and 17 year olds get both a Junior ISA allowance and an adult ISA allowance, they can pay into one Junior ISA of each type, and one adult cash ISA (as they aren't permitted to hold adult investment ISAs or LISAs until they are 18).
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