Help to Buy ISA annual allowance?

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Multiple Choice

Help to Buy ISA annual allowance?

Explanation:
The amount you can save into a Help to Buy ISA each year is governed by a monthly saving cap. You can deposit up to £200 every month, which totals £2,400 over a 12-month year. There is also a one-off upfront deposit of up to £1,000 when you open the account, but the question asks for the annual allowance, which is based on the regular monthly limit. The other figures exceed what the monthly cap allows in a year, so they don’t fit the annual allowance.

The amount you can save into a Help to Buy ISA each year is governed by a monthly saving cap. You can deposit up to £200 every month, which totals £2,400 over a 12-month year. There is also a one-off upfront deposit of up to £1,000 when you open the account, but the question asks for the annual allowance, which is based on the regular monthly limit. The other figures exceed what the monthly cap allows in a year, so they don’t fit the annual allowance.

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