New LISA with a Help to buy LISA

Marvin94

Good evening,

Apologies for being late to the game on this one.
Hopefully someone might have some knowledge on this.

I have a Help to Buy ISA which I would like to transfer to a LISA.
The HTB ISA is with Nationwide who I believe wrap all of their cash ISAs into one.
I don't know if the HTB element is separate to the rest.

Is it possible to open a LISA in the current tax year as well as having paid into the Nationwide ISA?

Alternatively to make the issue simpler, is it possible to open/ pay into a LISA as well as a standard ISA in the same tax year?

Just looking to maximise the bonus for this year if possible.

Many thanks.

eskbanker

You'll have left it too late to do any ISA transfers this tax year, and may even struggle to get a LISA opened and funded in time, but if you can, then you are allowed to pay into a LISA in the same tax year as a cash ISA, subject to aggregate contributions being within the overall £20K annual limit.

Marvin94

Unfortunately I have transferred deposit savings into the Nationwide ISA so don't have much of the limit remaining.

Thanks for your advice, much appreciated.

eskbanker

Marvin94 said:

Unfortunately I have transferred deposit savings into the Nationwide ISA so don't have much of the limit remaining.

If the (non-HTB) Nationwide cash ISA is flexible, you can withdraw £4K from it and pay that into a LISA.