Child trust fund. Child no longer resident in UK

Toolman2001

I am looking to transfer my daughters CTF to another savings account but as she is now no longer a UK resident can I still transfer this to a junior ISA. She is 9 years old and living in Italy with her mother for five years now. I am a uk resident and A higher rate tax payer.
Please advise as to Best best way to save or invest for her future. I think a junior investment ISA would be the best option.
Thank you

Flobberchops

I'm almost positive the requirement for the ISA holder to be a UK resident applies to the Junior ISA too. As for the best savings options for a non-domiciled minor, I'm really not sure, hopefully somebody else can offer some advice?

xylophone

http://www3.moneysavingexpert.com/files/ctf_guide.pdf

WHAT IF MY CHILD HAS A CTF BUT THEN MOVES ABROAD?
The CTF account will remain open and family and friends will be able to continue saving.......
either from within the UK or from abroad.

The child would however be able to access the money on their 18th birthday, whether or not they were living in the UK.

https://www.gov.uk/junior-individual-savings-accounts/add-money-to-an-account

If your child moves abroad, you can still add cash to their Junior ISA.

xylophone

See also
https://www.skintedmintedmum.co.uk/minted-blog/how-to-transfer-a-child-trust-fund-ctf-to-jisa-with-a-double-scoop-of-tax-allowance.html

Because few firms now offer CTFs, interest rates and the choice of products are limited. Many parents have switched their CTF into a Jisa where there’s a better selection. A friend of mine (hello Jude!) was asking the other day how to do it – it’s actually very easy. You find the Jisa company you wish to move to (bank for cash or investment firm for shares) and ask for a transfer form. Fill it in, give it to your chosen Jisa provider and they do the rest - although it may take some time. See the SMM guide to Jisas here.

Before you do that, just check when you made the last contribution. With a Jisa, the annual allowance period runs between the regular tax year (6 April to 5 April the next year). But the CTF period starts on the child’s birthday and ends the day before their next birthday. This difference means it’s possible to double up your allowance.

For example, let’s assume little Oscar’s birthday is Thursday this week, 30 March, and you’ve contributed this year’s allowance already. We’re leaving it a bit late but in theory you could, on Thursday, put in his 2017/2018 allowance of £4,080 and then trigger the transfer to a Jisa. Miraculously, the paperwork is done instantaneously and the Jisa is open several days before 5 April, letting you shove this year’s Jisa allowance (also £4,080) into the pot as well. A double tax saving whammy!