Cash ISA to Help to Buy

Hi,

I currently have a HSBC Loyalty Cash ISA, which has been used as a flexible savings account including contributions this year.

I have opened a Help to Buy ISA (not a split-ISA), and would like to self-transfer some of the balance of the Cash ISA, but have yet to pay an amount in to the Help to Buy ISA.


Am I correct in assuming the following steps are all that is required to keep HMRC happy:

1. Transfer full Cash ISA balance into Current Account.
2. Close Cash ISA Account.
3. Pay upto £1200 in to the Help to Buy ISA as a first month contribution.
4. Transfer the remaining balance from the Current Account into a regular savings account.

Thanks in advance!