Junior ISA and LISA

hmallya · 13 September 2017 at 11:52AM

Can I please ask for some advice ? My daughter will be 18 yrs old in October. We have an Junior ISA account in her name. If I contribute to her Junior ISA allowance before her birthday , can she still open a Life Time ISA straight after she turns 18 in Ocotober ? OR is she allowed only one contribution?

Many thanks in advance for your reply.

Regards

xylophone · 13 September 2017 at 12:05PM

You can contribute to the JISA before it matures into whatever product is offered by the provider.

Examples

http://www.nationwide.co.uk/support/support-articles/terms-and-conditions/junior-isa-maturity-account-terms-and-conditions

https://www.coventrybuildingsociety.co.uk/consumer/product/savings/children/junior-cash-isa.html

It is possible (once a child turns 16) to have both a JISA and an adult ISA.

A LISA can be opened at the age of eighteen.

It is possible to contribute up to £4000 per tax year to a LISA and then up to the ISA subscription into another ISA product.

https://www.gov.uk/lifetime-isa

http://www.moneysavingexpert.com/savings/lifetime-ISAs

hmallya · 13 September 2017 at 2:29PM

thank you.

Junior ISA and LISA

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