Help to Buy Isa

LouMcF

Just wondering if anyone has come across this? My granddaughter has a HTB ISA which her dad pays into from his account using a portion of her household Board. Recently a friend has had an issue with accessing their ISA as the deposits came from their parents account. Is this likely to be a problem?

sheramber

Strictly the money should come from your granddaughter’s own bank account.

it would be best to check with th ISA provider.

eskbanker

sheramber said:

Strictly the money should come from your granddaughter’s own bank account.

No:

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

LouMcF said:

Recently a friend has had an issue with accessing their ISA as the deposits came from their parents account.

There must be more to the story than that?

LouMcF

There may be but I’m not aware of anything. She is now going to pay in from her own account so hopefully that will avert any issues. I just thought it seemed strange but I guess it could be a safeguard.