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Can I transfer my ISA to my daughter?
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PWheeler
Posts: 2 Newbie
Some years ago I wanted to open an ISA for my daughter, but because she wasn't 18 it proved very difficult to find an ISA that was suitable.
Consequently I decided to open an ISA in my name but that the money in that ISA really belonged to my daughter.
Now she is 18 I want to transfer it into her name.
Is this possible and if so, how do I go about it?
My ISA is with Icesave and I transferred the money into this from a previous ISA about 6 months ago.
Any help would be appreciated.
Thanks
Penny
Consequently I decided to open an ISA in my name but that the money in that ISA really belonged to my daughter.
Now she is 18 I want to transfer it into her name.
Is this possible and if so, how do I go about it?
My ISA is with Icesave and I transferred the money into this from a previous ISA about 6 months ago.
Any help would be appreciated.
Thanks
Penny
0
Comments
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The 'I' in ISA stands for 'Individual'.
Whilst you could give her the contents of the ISA (after which she could put them in her own ISA), you cannot transfer their tax-free status.0 -
No, it is an Individual Savings Account - you could withdraw £3600 each tax year for your daughter to pay into an ISA in her own name, while maintaining the tax-free status of the balance.0
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If it's a Cash Isa (which I assume it must since you mention IceSave) you do realise she was eligible when she was 16...?Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0
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