Paying into a LISA and H2B isa

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  • 20SmthngSver
    20SmthngSver Posts: 512
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    So further to my previous question, about contributing to a Help to Buy ISA and a Cash ISA in the same tax year to make the most of my allowance, and it being no unless it's a S+S ISA which is transferred to a Cash ISA in the following tax year, I read this on Aldermore:

    "As the Help to Buy: ISA is a Cash ISA, you can’t deposit into a Help to Buy: ISA and another Cash ISA with different ISA providers in the same tax year."

    This implies that you can deposit into both in the same tax year provided that both the ISA's are with the same provider? This this correct?
  • eskbanker
    eskbanker Posts: 30,401
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    So further to my previous question, about contributing to a Help to Buy ISA and a Cash ISA in the same tax year to make the most of my allowance, and it being no unless it's a S+S ISA which is transferred to a Cash ISA in the following tax year, I read this on Aldermore:

    "As the Help to Buy: ISA is a Cash ISA, you can’t deposit into a Help to Buy: ISA and another Cash ISA with different ISA providers in the same tax year."

    This implies that you can deposit into both in the same tax year provided that both the ISA's are with the same provider? This this correct?
    This is getting a bit circular but no it's not correct, unless the HTB ISA and the non-HTB cash ISA are both with one of the providers who support split ISAs, as already covered in post #9 above.

    So, the text quoted is strictly true as stated, but doesn't imply what you think it does, i.e. saying you can't pay into multiple cash ISAs with different providers doesn't necessarily mean that you can do so with the same provider (although as it happens you can with Aldermore, as one of the providers offering split ISAs)....
  • Benjonezy92_2
    Benjonezy92_2 Posts: 2 Newbie
    edited 20 June 2019 at 9:39AM
    Hi everyone,

    I called Halifax yesterday to check the status of my H2B ISA and was worryingly told that I had to buy my first property by December 2019 (marking 4 years since I opened the account) to receive the 25% bonus. Surely this isn't true?! Anyone...?

    Thanks in advance
    Ben
  • eskbanker
    eskbanker Posts: 30,401
    First Anniversary Name Dropper Photogenic First Post
    Forumite
    I called Halifax yesterday to check the status of my H2B ISA and was worryingly told that I had to buy my first property by December 2019 (marking 4 years since I opened the account) to receive the 25% bonus. Surely this isn't true?! Anyone...?
    No, it's not true, either you or they have misunderstood! It isn't possible to open a new HTB ISA from December 2019 onwards, but those opened before then can be funded up to 2029 and used by 2030, as explained at https://www.helptobuy.gov.uk/help-to-buy-isa/faq/#809a24ea-e1f7-648f-8ce9-ff0000ad17aa:
    How long will Help to Buy: ISAs be available for?

    You’ll be able to open a Help to Buy: ISA until 30 November 2019. After that date they won’t be available to new savers anymore – but if you opened your Help to Buy: ISA before then you can keep saving into your account until 30 November 2029 when accounts will close to additional contributions.

    You must claim your bonus by 1 December 2030.
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