Illegal Junior ISA trap?

masonic

momcop wrote: »

Wow, thanks Masonic, I am more enlightened. I am obviously in need of the UK law that stipulates this to back it up - excuse me for wanting hard proof.

My pleasure. Here is the hard proof:
http://www.legislation.gov.uk/uksi/2011/1780/made

momcop

Masonic, Thank you for the link, when I have also read the linked regulations I'll be able to comment further, and hopefully thank you again.

masonic

You might also want to take a look here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/512781/ISA_guidance_notes_April_2016.pdf

This document states how HMRC requires companies to manage ISAs. Chapter 25 covers JISA transfers.

xylophone

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.

You are indeed free to choose where you live.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/512781/ISA_guidance_notes_April_2016.pdf

momcop

"You are indeed free to choose where you live."
Thank you Xylophone.

momcop

"You might also want to take a look here: www.gov.uk/government/uploads/system/uploads/attachment_data/file/512781/ISA_guidance_notes_April_2016.pdf"

Thanks again Masonic! I would not know roughly where else to look.

xylophone

"You are indeed free to choose where you live."
Thank you Xylophone.

Don't mention it - generosity is my middle name!:)

jimjames

momcop wrote: »

Masonic, thanks again, but it still does not state in writing that it cannot be transferred, out of the UK.

Hence my question asking if you have found a JISA manager outside the UK. I think it incredibly unlikely that you have done so but you seem to think that you have so I was hoping you could give details.

A JISA is a specific product. It is not just a kids savings account.

masonic wrote: »

No, there is no need to copyright or trademark a term defined in law. Other sovereign states are of course entitled to use the same term to mean something else.

Exactly. It caused a fuss when it was found all individuals in the USA were giving money to IRA.

LXdaddy

jimjames wrote: »

It caused a fuss when it was found all individuals in the USA were giving money to IRA.

I presume you mean the US individuals investing in their Individual Retirement Accounts.

As opposed to sending money to any other organisation that might use the same initials.

masonic

LXdaddy wrote: »

I presume you mean the US individuals investing in their Individual Retirement Accounts.

As opposed to sending money to any other organisation that might use the same initials.

What, you mean all that money I used to send to an IRA account in Ireland wasn't the same thing as people use in the US?

But it's an equivalent account, right?