CTF to jISA question

berneslai

Hi all,

I currently hold two F&C CTF policies for my children which I aim to move away from due to the fees levied on each account. It's just dawned on me that, whilst waiting for the April 2015 switching date, I haven't put any plans in place to actually obtain a junior ISA to transfer into!

If I open 2 junior ISA's now in lieu of transferring out of F&C in April 2015, is there anything I need to bear in mind? I've not yet noticed any small print regarding rules and regs of what I can transfer in to.

Thanks,
B.

gkerr4

wait .. can you do this?

I have two CTF's somewhere for my two - i didn't think they could be touched at all!?!?

Radiantsoul

The government were consulting. I guess all will become clear after the next budget.

colsten

Until April 6, the old rules still apply, i.e. you can't open a JISA for a child that has a CTF.

What would you consider the benefits of doing so before April 6?

colsten

gkerr4 wrote: »

wait .. can you do this?

I have two CTF's somewhere for my two - i didn't think they could be touched at all!?!?

They can, from April 6.

https://www.gov.uk/government/news/government-to-allow-child-trust-funds-to-transfer-to-junior-isas

gkerr4

good to know - thank you.
g

berneslai

colsten wrote: »

Until April 6, the old rules still apply, i.e. you can't open a JISA for a child that has a CTF.

What would you consider the benefits of doing so before April 6?

I'd assumed that April the 6th was the day that a transfer from CTF was allowed, not the date that children with CTF's could apply for a junior ISA - my mistake, I thought I could open a new account now. I'll hang on until 6/4