Can I pay into child ISA and my own isa in the same tax year?

simonh7

Hello everyone, first time poster here. I have searched and searched and read article after article and forum post after forum post and for the life of me I can't find the answer to this question!! I have recently become a parent and would like to open a child ISA. However, I want to pay into my own ISA monthly and also my child's ISA monthly. Is this allowed? I am aware that I can;t pay into more than one of my own ISAs in a year, but can;t work out if the above is allowed. Any advice appreciated! Thanks. 

masonic

Yes your child's ISA is your child's ISA and their money. Each of you is treated separately.

xylophone

No problem at all. Your child has his own JISA allowance which is quite separate from yours.
https://www.gov.uk/junior-individual-savings-accounts
https://moneytothemasses.com/quick-savings/parents/best-junior-stocks-and-shares-isa

eskbanker

simonh7 said:

I am aware that I can;t pay into more than one of my own ISAs in a year

For the record, you can pay into multiple ISAs in a tax year if they're of different types, so can fund a cash ISA, a S&S one, a lifetime one and an innovative finance one concurrently.

Some providers also allow you to pay into more than one of their cash ISAs by treating them as a single 'split ISA' entity: https://www.moneysavingexpert.com/savings/best-cash-isa/#accordion-content-0334234523-3