CTF Help - Child no longer resident in UK

Toolman2001

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.

[Deleted User]

+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?

xylophone

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?