Junior ISA and LISA

hmallya

Can I please ask for some advice ? My daughter will be 18 yrs old in October. We have an Junior ISA account in her name. If I contribute to her Junior ISA allowance before her birthday , can she still open a Life Time ISA straight after she turns 18 in Ocotober ? OR is she allowed only one contribution?

Many thanks in advance for your reply.

Regards

xylophone

You can contribute to the JISA before it matures into whatever product is offered by the provider.

Examples

http://www.nationwide.co.uk/support/support-articles/terms-and-conditions/junior-isa-maturity-account-terms-and-conditions



https://www.coventrybuildingsociety.co.uk/consumer/product/savings/children/junior-cash-isa.html

It is possible (once a child turns 16) to have both a JISA and an adult ISA.

A LISA can be opened at the age of eighteen.

It is possible to contribute up to £4000 per tax year to a LISA and then up to the ISA subscription into another ISA product.

https://www.gov.uk/lifetime-isa

http://www.moneysavingexpert.com/savings/lifetime-ISAs

hmallya

thank you.