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  • FIRST POST
    • alanot86
    • By alanot86 7th Mar 18, 12:59 PM
    • 1Posts
    • 0Thanks
    alanot86
    LISA & help to buy
    • #1
    • 7th Mar 18, 12:59 PM
    LISA & help to buy 7th Mar 18 at 12:59 PM
    Hi

    Does anyone know if a LISA and help to buy IS A can be opened in the same tax year? Confusion in the literature about this.. Are they classified as separate ISA products ?
Page 1
    • Riff Raff
    • By Riff Raff 7th Mar 18, 1:10 PM
    • 18 Posts
    • 12 Thanks
    Riff Raff
    • #2
    • 7th Mar 18, 1:10 PM
    • #2
    • 7th Mar 18, 1:10 PM
    Yes, they are seperate.

    There are 4 types of ISA and you can have one of each:

    cash ISAs
    stocks and shares ISAs
    innovative finance ISAs
    Lifetime ISAs

    HTB counts as a cash ISA.

    However you can't claim the bonus from a HTB and a LISA to buy your first home.
    • aj23
    • By aj23 7th Mar 18, 4:01 PM
    • 505 Posts
    • 177 Thanks
    aj23
    • #3
    • 7th Mar 18, 4:01 PM
    • #3
    • 7th Mar 18, 4:01 PM
    And both their deposit limits count toward your overall annual ISA limit.
    • ashleybullock
    • By ashleybullock 10th Mar 18, 1:54 PM
    • 4 Posts
    • 0 Thanks
    ashleybullock
    • #4
    • 10th Mar 18, 1:54 PM
    • #4
    • 10th Mar 18, 1:54 PM
    So if you close your HTB ISA and transfer to a LISA can you then open a cash isa. All in the same tax year?
    • bowlhead99
    • By bowlhead99 10th Mar 18, 4:53 PM
    • 7,975 Posts
    • 14,513 Thanks
    bowlhead99
    • #5
    • 10th Mar 18, 4:53 PM
    • #5
    • 10th Mar 18, 4:53 PM
    So if you close your HTB ISA and transfer to a LISA can you then open a cash isa. All in the same tax year?
    Originally posted by ashleybullock
    Yes. [extra text added to meet minimum number of characters required]
    • Dunroaming
    • By Dunroaming 10th Mar 18, 11:00 PM
    • 127 Posts
    • 364 Thanks
    Dunroaming
    • #6
    • 10th Mar 18, 11:00 PM
    • #6
    • 10th Mar 18, 11:00 PM
    My son puts the maximum into a HTB ISA, where is the best place for other savings?
    He saves around £1000 a month total. TIA
    • eskbanker
    • By eskbanker 10th Mar 18, 11:47 PM
    • 7,429 Posts
    • 8,000 Thanks
    eskbanker
    • #7
    • 10th Mar 18, 11:47 PM
    • #7
    • 10th Mar 18, 11:47 PM
    My son puts the maximum into a HTB ISA, where is the best place for other savings?
    He saves around £1000 a month total. TIA
    Originally posted by Dunroaming
    Point him in the direction of:
    https://www.moneysavingexpert.com/savings/lifetime-ISAs
    https://www.moneysavingexpert.com/savings/best-regular-savings-accounts
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