Have I opened two cash ISAs in the same year?

MoneyAlex · 6 January 2019 at 12:07PM

I've opened a cash Lifetime ISA and a Help to Buy ISA in the same tax year. I thought that the Lifetime ISA was a different type of ISA to Help to Buy but now am thinking are they both cash ISAs? Have I broken the rules? Thanks

eskbanker · 6 January 2019 at 12:41PM

You're fine - cash ISAs (including HTB) and Lifetime ISAs (cash or S&S) are different types, as per https://www.gov.uk/individual-savings-accounts:

There are 4 types of ISA:
cash ISAs

stocks and shares ISAs

innovative finance ISAs

Lifetime ISAs

You can put money into one of each kind of ISA each tax year.

Just to check, you do know that you can only benefit from the 25% bonus from one or the other (but not both) towards your first property purchase?

Have I opened two cash ISAs in the same year?

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