Junior Shares ISA

wiltshiregirl69

I suspect this might have been answered before but I couldn't find one.

My daughter currently has a stocks and shares Junior ISA and turns 18 in October. If I top up her junior ISA now by the allowance (£4368), when it converts to an adult ISA in October how much can she then contribute - the full £20k or £20k minus the junior allowance which has already been contributed?

eskbanker

16 and 17 year olds have a full adult ISA allowance as well as a junior ISA one, so can theoretically fund both concurrently at £24,368 for those two years (in fact for three tax years, for those not born on 6 April!).

As you say, she can only open a S&S ISA once she turns 18 but could open a cash one before then and transfer - probably not much use directly for her situation now but perhaps worth recording for other readers with kids turning 16 and funds available....