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Stocks & Shares and Help To Buy ISA

Hi everyone,

I’m 23 and currently have a Help To Buy ISA open (with Barclays). However, I’m looking to start investing and open a Stocks & Shares ISA and I’m wondering if there are any rules that prevent me from putting money in both in the same year? I’ve been looking at opening one with Vanguard or Barclays.

Thanks
Jake

Comments

  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Post of the Month
    No, a help to buy ISA is simply a specialist type of Cash ISA, while a S&S ISA is a different category altogether.

    The 4 main categories are Cash ISA, S&S ISA , Innovative Finance ISA and Lifetime ISA. As long as you are only putting new money into one ISA of each category during a tax year, and the total  new contributions in a tax year don't go over £20k across all the categories together, or break any of the individual product limits, you are fine.

    So a Vanguard or Barclays S&S ISA can take £20k lof new money less whatever you are putting into the HtB ISA during 2020/21 tax year.
  • Upwards_2
    Upwards_2 Posts: 13 Forumite
    First Anniversary First Post
    Ah great, thank you very much!bowlhead99 said:
    No, a help to buy ISA is simply a specialist type of Cash ISA, while a S&S ISA is a different category altogether.

    The 4 main categories are Cash ISA, S&S ISA , Innovative Finance ISA and Lifetime ISA. As long as you are only putting new money into one ISA of each category during a tax year, and the total  new contributions in a tax year don't go over £20k across all the categories together, or break any of the individual product limits, you are fine.

    So a Vanguard or Barclays S&S ISA can take £20k lof new money less whatever you are putting into the HtB ISA during 2020/21 tax year.

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