MSE News: Budget 2013: Government mulls merging Child Trust Funds with junior ISAs

Former_MSE_Helen

"The Government says it will consult on the options for transferring savings held in CTFs into junior Isas..."

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Budget 2013: Government mulls merging Child Trust Funds with junior ISAs



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jo-bo

About time, hate getting my statement each year that states I've lost money, at least in an ISA if I didn't add to it it would stay the same.

xmodz

has the budget allowed aim shares in a isa yet

Martinslovechild

xmodz wrote: »

has the budget allowed aim shares in a isa yet

Not yet, I've been waiting for that announcement too after they said they would consider it.

They've removed stamp duty on AIM shares though.

xmodz

Martinslovechild wrote: »

Not yet, I've been waiting for that announcement too after they said they would consider it.

They've removed stamp duty on AIM shares though.

thats good. so you save £5 for every £1000 investment,

every little helps.

do you know when this will come into effect

jimjames

jo-bo wrote: »

About time, hate getting my statement each year that states I've lost money, at least in an ISA if I didn't add to it it would stay the same.

Out of interest how is it losing money compared to an ISA? Could you move it elsewhere?

WillardSpoontree

Depending on who your CTF is with it will probably pay less interest or charge higher fees.

Does anyone know how long this 'consultation' is supposed to last? I have three CTF's with F&C, who will take £25 each out of them in September, so it would be great if the Junior ISA thing is resolved my then. Is that remotely likely?

Stompa

xmodz wrote: »

thats good. so you save £5 for every £1000 investment,

every little helps.

do you know when this will come into effect

April 2014.

http://www.telegraph.co.uk/finance/personalfinance/how-budget-affect-me/9943464/Budget-2013-Stamp-duty-on-smaller-company-shares-axed.html

trulys

jo-bo wrote: »

About time, hate getting my statement each year that states I've lost money, at least in an ISA if I didn't add to it it would stay the same.

Is yours in a Stakeholder CTF? Mine is, and in previous years its gone up and down. I've only ever added the two CTF vouchers, and in 2011 it was worth £639.02, and in 2012 it was worth £606.18. Presently, its worth £712.11 - not bad for a £500 government contribution! Whilst its high, I've applied to move this to Furness Savings CTF which is giving 3.05%.

I would welcome the opportunity to move this around to a Junior ISA if the rates were more favourable!

It might be worthwhile you checking to see what yours is actually worth this year - it might be better than previous? If you're not happy, move it to a Savings CTF offering a decent interest rate.