Child Trust Fund

Graeme7777

Hi,


My son has the value of original voucher plus some small amount of accrued interest in a cash CTF.


Is it possible to transfer such a small amount of money into a stocks & shares CTF?


Thanks

bowlhead99

Yes, but they are a dying breed because kids born before yours, or born today, aren't eligible for CTFs , they would use Junior ISAs instead (which are also available in Cash and S&S formats).

This makes JISAs more competitive between providers, than CTFs which are a bit more "niche".

Fortunately, from the next tax year onwards, you can transfer a CTF into a JISA which is likely a better long-term solution.

xylophone

http://www.which.co.uk/money/savings-and-investments/reviews-ns/child-trust-funds/how-to-switch-child-trust-funds/

Might be better to wait for the upcoming changes?

Kendall80

As to the exact date you can transfer into a JISA I got this back today from Chorley;


"I can confirm the date for the CTF transfers will be 06th April 2015."

Graeme7777

Thank you very much

TexasChainstoreMascara

Is this right? I know that proposals have been in place for a while but I heard no mention of this in the recent budget.

We have an older child who has a few NS&I accounts and we are desperate to move them to an ISA as the performance is so poor. We are also expecting another who we will be opening an ISA for as soon as we've got the birth certificate, but it's the older one's money we are unsure about as yet.

MadMat

Still waiting for HL to confirm when I can transfer my Sons CTF

Kendall80

MadMat wrote: »

Still waiting for HL to confirm when I can transfer my Sons CTF

My broker says they are still awaiting confirmation from HMRC before they can implement forms and procedures.

It would seem the banks/BS are going to be ready to transfer but the brokers and HMRC are yet to get up to speed.

mark13

Hope it is April.

Brummum11

Can't seem to get any news on this from anywhere. I thought it was all coming in from 6th of April.

Anyone no any more?