CTF and Junior ISA

CuddlySteve

Is it possible to hold both a Child Trust Fund and a Junior ISA concurrently, is the same way you can hold different ISAs from different years?

My son has a Child Trust Fund which we haven't paid into for a long while. I want to open a JISA for him, but leave the CTF im place.

colsten

You can't have both. If you want a JISA, you can transfer the CTF into it. Most parents don't think the CTF is better value than a JISA, and are delighted that at last they can transfer to a JISA.

As a one-off, you can deposit the maximum into the CTF now, then transfer it to a JISA, and put the maximum allowance for the year into the JISA.

You need to ask the JISA provider to make the transfer.

CuddlySteve

Thank you.

Caroles54

Thank you for posting this question. I having been wanting to know this too. Same understanding and predicament!!

Cat_Loving_Lady

I transferred my sons CTF into a JISA about 2 years ago now and am very happy with the return. Nationwide have a good one.

SamDude

Caroles54 wrote: »

Thank you for posting this question. I having been wanting to know this too. Same understanding and predicament!!

Not adding much to the thread, only to confirm that we did this a couple of years ago - paid the maximum amount into our sons CTF and then transferred to JISA and paid the maximum JISA limit. It was a one-off, but it did feel good 'loopholing' the system...