Junior ISA

gharrop

I’ve just received a letter from my child’s trust fund reducing the interest rate, I’d like to transfer to a junior isa but the amount we have in the CTF exceeds the annual amount you are permitted to transfer. I’m not sure what to do. Any suggestions?

Alexland

There is no CTF to JISA transfer limit so you are OK to transfer the whole account. The transfer will be treated as a previous tax year contribution so the whole current tax year JISA annual allowance will be available to make further contributions.