Illegal Junior ISA trap?

dunstonh

Do you think I can argue with human rights of property?

Oh dear oh dear oh dear. You can see why the brexit voters thought the way they did sometimes.

As mentioned, ISAs are a UK tax wrapper. They are not recognised as being tax free in most other countries. So, whilst you are able to retain the investments in the ISA, you may have to pay tax on them depending on the tax regime of your country of residence.

momcop

Thank you, and Nationwide told me that it can be transferred to another JISA as long as it is on the UK. But this is not in written terms.

masonic

momcop wrote: »

Thank you, and Nationwide told me that it can be transferred to another JISA as long as it is on the UK. But this is not in written terms.

Really?

18. If you wish to transfer the total balance of the Smart Junior ISA to another Junior ISA manager we will send the funds and accompanying
information to the new manager within 5 business days of the date of receipt of a transfer instruction from the new manager.

...

momcop

Thank you for the reply.I don't mind paying tax on them, the issue is having them with me. Things did not work out for me in the UK, my home country, and I see things worsening in the long term, so I left for good and simply wished to take the JISA's with me.

momcop

xylophone wrote: »

It seems that the OP has lived abroad/returned to UK/ gone abroad again ...her plans seem very fluid.


Please, I came for advice not ridicule.
Why not talk to me direct instead of like I wasn't here - It is a fact I have lived in the UK all my life until I went on a career break, and returned to the UK and had all those difficulties which is why I came here for some help. Nothing wrong with that.(Just so the record is set straight.)

momcop

Masonic, Yes true! I was in Branch, they told me verbally, and they even called the team that specifically deals with JISA's, and they handed me the phone to him to he told me the same thing.

masonic

momcop wrote: »

Masonic, Yes true! I was in Branch, they told me verbally, and they even called the team that specifically deals with JISA's, and they handed me the phone to him to he told me the same thing.

My "Really?" was in reference to your statement that this isn't in the written terms. I quoted the relevant term above, which clearly backs up what you have been told.

momcop

The country that I am in, outside of the UK, does have equivalent accounts and does indeed accept transfers. They gave me the application to complete, which i did , then gave it by hand to Nationwide, which they then refused on the claim that they are not allowed to be transferred outside of the UK, which is not stipulated in the written terms or conditions, only verbally.

momcop

Xylophone, in this era I find it very wise to be fluid. Nothing wrong with that. I am allowed to choose where I live, nothing wrong with that.

masonic

momcop wrote: »

The country that I am in, outside of the UK, does have equivalent accounts and does indeed accept transfers. They gave me the application to complete, which i did , then gave it by hand to Nationwide, which they then refused on the claim that they are not allowed to be transferred outside of the UK, which is not stipulated in the written terms or conditions, only verbally.

You are wrong. No provider outside the UK is permitted to be a JISA manager. Only a JISA manager can receive the funds from your existing JISA. That is what the T&Cs say.