Help To Buy with Cash ISA Question

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Robin_TBW
Robin_TBW Posts: 497 Forumite
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in ISAs & tax-free savings
Quick question as I really have no idea. From the information I can find it seems to be some providers offer a Cash ISA which you can hold alongside the Help To Buy ISA - this indicates to me that in most cases you cannot pay into a Cash ISA as well as a Help To Buy.


Is this the case?


My present standing is that I have a Cash ISA for the current tax year with Provider A but I would like to open a Help To Buy ISA with Provider B.


Is this allowed or not?


There doesn't seem to be much information around about people who already hold a Cash ISA and would like to benefit from the Help To Buy scheme.

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  • eskbanker
    eskbanker Posts: 31,076 Forumite
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    edited 7 October 2019 at 3:41PM
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    Robin_TBW wrote: »
    Quick question as I really have no idea. From the information I can find it seems to be some providers offer a Cash ISA which you can hold alongside the Help To Buy ISA - this indicates to me that in most cases you cannot pay into a Cash ISA as well as a Help To Buy.

    Is this the case?
    Yes.
    Robin_TBW wrote: »
    My present standing is that I have a Cash ISA for the current tax year with Provider A but I would like to open a Help To Buy ISA with Provider B.

    Is this allowed or not?
    No.

    You could transfer your existing cash ISA to provider B and open an HTB alongside it, as long as provider B is one of those supporting split ISAs, or open an HTB with provider A if they support splits.
    Robin_TBW wrote: »
    There doesn't seem to be much information around about people who already hold a Cash ISA and would like to benefit from the Help To Buy scheme.
    See https://www.moneysavingexpert.com/savings/help-to-buy-ISA/#accordion-content-289218858-0

    Also worth considering Lifetime ISA as an alternative to HTB, that can be funded alongside a cash ISA....
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