Potential CTF to JISA Loophole

ScottyLP · 26 March 2015 at 8:06PM

Just reading up on the budget and noticed a potential loophole where a parent may be able to invest 3 times the annual allowance on a junior isa.

So, come April 6th the JISA & CTF allowance becomes £4080.

As the ctf runs birthday to birthday the following could theoretically happen.

Child born may 1st for example.

Between April 6th & May 1st max out ctf allowance (£4080)
After May 1st max out new ctf allowance. (£4080)
Then transfer into a JISA where if my understanding is correct there would be another £4080 to use as ctf contributions don't count as isa subscriptions.

Is that correct ?

whevs · 8 April 2015 at 11:57AM

ScottyLP

Just wondering whether you found the answer to this question? I don't know about contributing 3 times but I definitely read somewhere (and now can't find) that you might be able to contribute twice in this tax year: once into the CTF and then into the JISA once you've made the transfer.