Lifetime ISA

If i open a LISA now, and pay the 4k in to it. Then when june rolls around next year i put another 4k in straight away. Can i use it there and then and get 2k bonus? Thats how it reads to me but seems too good to be true really? does the money have to be in another year to get the other 1k?
 
jubei said:
If i open a LISA now, and pay the 4k in to it. Then when june rolls around next year i put another 4k in straight away. Can i use it there and then and get 2k bonus? Thats how it reads to me but seems too good to be true really? does the money have to be in another year to get the other 1k?
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Isn't it £4k for this tax year and then another on £4k can be put in on April 6th 2018?

I thought the 12 month thing was about how long the account can be open to get your 25% house buying bonus.
 
Question

Can I open a Lisa and help to buy isa at same time?
Help to buy for a house and Lisa for retirement?
 
Would it be possible to transfer my HTB ISA to a LISA, add in the max lump sum possible then claim the first time buyer bonus on the whole sum some time this year? Everything I read about LISAs seems to suggest the bonus is paid at the end of the tax year rather than when you "need" it?
 
jubei said:
If i open a LISA now, and pay the 4k in to it. Then when june rolls around next year i put another 4k in straight away. Can i use it there and then and get 2k bonus? Thats how it reads to me but seems too good to be true really? does the money have to be in another year to get the other 1k?
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I know what you are asking, the first year the bonus is paid at the end of the month, from next year on, it is paid each month, so indeed, if you open now, 4K it, in April next year it becomes 5k with bonus, then after april 6th, dump another 4K inot it, at the end of that month, it'll get the bonus, make it to 10K and thus be usable in a purchase.
 
Bit of a thread revival as I I read you can gain by transferring Help to buy ISA to a lifetime ISA ? Is this correct ? I opened a H2B ISA in April 2016 although this isn't my main place of savings. But I was maxing it out. Can it be moved transferred over for some gains?
 
Moses said:
You can have the Help to Buy ISA and the LISA, which means you can use the max allowance across the two (£4000). You can also roll them together in this tax year, or keep them separate. If you keep them separate you can only use one to buy a house. MSE for full advice.
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Great thanks :) I'll check out MSE
 
Just to be clear, if I can. I should put away the full 4k into my ISA now we are in the new tax year?
I transferred from my HTB a couple months back and also paid in 4k.

The new 4k payment can maximise the bonus incase I need it sooner than I expected? Rather than paying in small amounts monthly?
 
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