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CTF Help - Child no longer resident in UK

Toolman2001
Posts: 7 Forumite

Can anybody advise me please.
My daughter (10yrs) is no longer living in the UK and I am therefore unable to move her Child Trust Fund to a Junior ISA.
What other options are open to me, as her money is just sitting there and making very little interest. (Earl Shilton BS)
Thank you in advance.
My daughter (10yrs) is no longer living in the UK and I am therefore unable to move her Child Trust Fund to a Junior ISA.
What other options are open to me, as her money is just sitting there and making very little interest. (Earl Shilton BS)
Thank you in advance.
0
Comments
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+1 adding to this question. I have exactly same situation. CTF is with "Foresters Life" and it didn't make any profit last year as I remember from statement.
Do I have any options?0 -
https://forums.moneysavingexpert.com/discussion/5804592/junior-isa-if-moving-abroad-advice
post 3
https://www.gov.uk/government/publications/isa-manager-bulletin-65/guidance-transfer-of-a-child-trust-fund-to-a-junior-isa
Transfers may be made between CTF providers and Junior ISA managers, or investments in a CTF may be transferred from a CTF to a Junior ISA (cash or stocks and shares) with the same institution.
A CTF may be transferred even if - at the time that the transfer is made - the child would not be eligible for a Junior ISA, for example because they are no longer resident in the UK, or a dependant of a crown servant.
Looking at the above, it would appear that there is no barrier under the rules to a transfer while the child is abroad but presumably whether to accept a transfer would depend on the individual institutions?0
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