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    • dex91
    • By dex91 13th Mar 18, 11:02 PM
    • 83Posts
    • 11Thanks
    Transferred H2B to a Lifetime, can I open cash ISA
    • #1
    • 13th Mar 18, 11:02 PM
    Transferred H2B to a Lifetime, can I open cash ISA 13th Mar 18 at 11:02 PM
    I am in the process of transferring my H2B ISA funds into a Flexible ISA. This tax year I will have used £6200 of my ISA allowance (£2200 in the H2B and £4000 in the Lifetime ISA) which leaves £13800 of my annual allowance.

    My question is can I open a new cash ISA before this tax year ends, and deposit the remainder of my allowance i.e. £13800 in that cash ISA? If I can would I get the specified interest rate for the cash ISA on all of the £13800?

Page 1
    • eskbanker
    • By eskbanker 13th Mar 18, 11:47 PM
    • 7,420 Posts
    • 7,989 Thanks
    • #2
    • 13th Mar 18, 11:47 PM
    • #2
    • 13th Mar 18, 11:47 PM
    If you've paid £2200 into your HTB this tax year and another £4000 into a LISA, then it follows that you haven't "Transferred H2B to a Lifetime" [ISA] as suggested by the thread title, as you can only transfer £4K plus previous years' HTB funds into a LISA this year.

    If this means that your HTB money has instead been transferred into a different cash ISA (?) then no, you can't pay into another cash ISA this tax year unless both are with one of the few providers who offer 'split ISAs', such as Nationwide. Perhaps worth clarifying exactly which accounts you have had and which you now have?

    And when you say "would I get the specified interest rate for the cash ISA on all of the £13800?" please don't say that you'd be expecting a full year's worth of interest for having money in an account for a few weeks!
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