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Who can pay into H2B ISAs and LISAs?

DeadTall
DeadTall Posts: 27 Forumite
Part of the Furniture 10 Posts Combo Breaker
edited 12 March 2024 at 10:23PM in ISAs & tax-free savings
Am I right that anyone can pay into a H2B ISA - i.e. parents can pay into their children's H2B ISAs, but only the account holder can pay into a LISA?  

I've seen conflicting information online - the Hargreaves Lansdown site says "Under HMRC rules, a Lifetime ISA can only be opened and topped up by the account holder." 

In contrast the Which? website says "Parents and grandparents can also pay into a lifetime Isa opened by their child or grandchild" 

MoneyBox website says "
four gifters can add money to your LISA per tax year, with a minimum of £100 and a maximum of £500 each." 

Thanks in advance :) 
:onervous but determined :o

Comments

  • eskbanker
    eskbanker Posts: 35,277 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic

    Cash subscriptions

    Investors can subscribe cash to each type of ISA. They must subscribe with their own cash, and this includes payment by cheque, direct debit, charge card, credit card, telegraphic transfer and standing order. Cash subscriptions from third parties can be accepted without question unless the ISA manager holds information that shows that the cash does not belong to the investor.

    https://www.gov.uk/guidance/manage-isa-subscriptions-for-your-investors#cash-subscriptions

    However, individual institutions can set their own product terms too....
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