1st Friday
Tax Chat

Help to Buy ISA’s – clarification needed

Help to Buy ISA’s – clarification needed

Help to buy ISA’s were launched in December 2015 targeted at first time buyers, providing Government support to save a deposit.

Under the scheme if you save a maximum of £200 per month towards the purchase of your first home, the Government will boost your savings by 25%. The scheme is capped at a £3,000 tax free bonus on savings of £12,000.

However detailed government guidance states that the help to buy ISA bonus must be claimed ‘in anticipation of the completion date’. This appears to prevent the money being used for the deposit due at the point of exchange of contract.

This contradicts the initial basis of the help to buy ISA, outlined above, and so may have been an oversight….hopefully further clarification will be made available when parliament returns in October.

Practical guidance on the help to buy ISA can be found here:

For more information, please contact Lesley Sutton on 01484 550037 or email

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