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riccirus wrote: »
therefore i would lose out on a lot of tax free eligible savings.
MJD wrote: »
Have I understood this correctly?
I am aware that I cannot have a Cash ISA and a HTB-ISA in the same tax year (yes I know that the Nationwide are doing a split ISA but that aside).
I have paid about £3000 into a cash ISA this tax year. If I withdraw that £3000 from the account so that I no longer have a current tax year's cash ISA and do not pay any more into that account does this then qualify me to open a HTB ISA?
MissC84 wrote: »
I currently save £1000pcm and am hoping this will go up to about £1200 a month in February next year. I'm looking at starting the house buying process in March 2016. I want to open a Help to Buy ISA for the £200pcm but am unsure where to save the other £800pcm. It's currently all just in a normal savings account so literally get pence in interest.
Should I get the Nationwide split ISA and where should I save the rest?
Any advice much appreciated thank you
riccirus wrote: »
It says you can only contribute to one cash isa in a tax year, does this mean that this will be the only cash isa you can out money in for as long as you have it. For example if I deposit £200 into a help to buy isa every month for 5 years i wont be able to put money into any other cash isa in those 5 years? therefore i would lose out on a lot of tax free eligible savings.
Aj28 wrote: »
So after having read & watched as much as I can on this I am still confused...
I currently have not opened an ISA this tax year, yet have money in an old one (anticipating the HTB -ISA). With this amount I am unsure what to do...
From what I can make out it would be best to open a split HTB-ISA (e.g. - Nationwide) and any extra over the £200/pm I can save would first go into topping my allowance up and then into a regular saver of some sort?
Please if anyone can help it would be much appreciated.
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