Help to Buy ISA and S&S ISA

owjennings

Background
I opened a Help to Buy ISA in September 2019 and continue to put savings into it inline with the £200 maximum monthly allowance, I know I can continue to do this until November 2029.
I have now recently opened a S&S ISA in August 2020.

Questions
Does the annual £20,000 limit cover both of these ISAs even when they were opened in different financial years? Or do I now have a new £20,000 limit for the S&S ISA and can continue to save in the HTB ISA as normal?

Can you continue to save in ISAs past the financial year that you opened them, if you don't open another ISA of the same category?

Many thanks

grumiofoundation

owjennings said:

Background
I opened a Help to Buy ISA in September 2019 and continue to put savings into it inline with the £200 maximum monthly allowance, I know I can continue to do this until November 2029.
I have now recently opened a S&S ISA in August 2020.

Questions
Does the annual £20,000 limit cover both of these ISAs even when they were opened in different financial years? Yes Or do I now have a new £20,000 limit for the S&S ISA and can continue to save in the HTB ISA as normal? No

Can you continue to save in ISAs past the financial year that you opened them, if you don't open another ISA of the same category? Yes - once you contribute then that is then the only ISA of that 'type' you can contribute to in that tax year.

For 2020 to 2021 tax year, the limit to what you can contribute (new money) is £20,000 - this limit is not per ISA but across all ISA types. How much you have paid in in previous tax years years does not impact this.

P. S. If you are saving for a house deposit you might want to look at a lifetime ISA 
https://www.moneysavingexpert.com/savings/lifetime-isas/