Partial transfer from JISA to kids S&S Isa?

girllikeme1

Is this possible or is it transfer all or nothing from a kids cash ISA (Halifax) to open a kids s&s isa with vanguard please?

bowlhead99

girllikeme1 wrote: »

Is this possible or is it transfer all or nothing from a kids cash ISA (Halifax) to open a kids s&s isa with vanguard please?

The child is allowed to have one cash junior ISA and one s&s junior ISA at a point in time. So if they don't currently have a S&S JISA they would not be breaking an HMRC rule by opening one, as long as the total amount of new money subscribed in a tax year didn't go over the limit when the subscriptions are added together.

So as far as HMRC are concerned it isn't just "all or nothing", they can split the one pot into two pots as long as they are different types (e.g. Halifax cash and Vanguard S&S).

Still, transfers are up to the managers involved approving them. So it would be worth checking with the current manager of the Cash ISA that they will accept a partial transfer out request which would be sent to them by the new (receiving) S&S ISA manager (they wouldn't support it if the receiving manager was another cash ISA manager because then your child would have more than one cash Jisa at once, which isn't allowed). Then fill out the transfer form for the new S&S one, confirming how much you want to transfer, being clear that it's not a full transfer and that you don't want to close the old ISA that the money's coming from.