Can I open an ISA in my daughter's name?

hanspancat3911

I have been saving for my daughter in a Baby Bond which has now matured. She knows nothing about it and I want to invest it until she is 21, she has just turned 18. Can I open an ISA in her name, or does it have to be in mine? Any advise would be greatly appreciated.

dzug1

If the ISA is to be in her name she must open it herself.






If you could there would be the danger of breaking the ISA rules if she opened one of her own

TCA

https://forums.moneysavingexpert.com/discussion/4867294

xylophone

Baby Bond

Who actually owns this money, you or your daughter?

If your daughter, she has the right to access and control at 18?

If the money is invested in your daughter's name she needs to know about it for her own taxation position.

You cannot open an ISA ( or indeed any other account unless you have POA on her behalf?) in her name.