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Bed and JISA
Hitting
Posts: 191 Forumite
If an parent buys an investment in their own name, a GIA account, can that investment then be Bed and JISA, to then benefit a child.?
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I don't believe so - in this case the parent would need to sell from the GIA, then withdraw the proceeds to a current account before paying into the JISA (which is of course held by a different person) and buying again once there....1
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bed & ISA, bed & pension etc are only a bunch of manual transactions put together in a process. So, it can be done by following the process. ie. sell the assets in the GIA, withdraw the cash, pay the cash into the JISA. However, there will unlikely be any automated process that allows that.Hitting said:If an parent buys an investment in their own name, a GIA account, can that investment then be Bed and JISA, to then benefit a child.?
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
Having done some further checks, this link suggests to me that it can be done without selling funds first.. https://www.chelseafs.co.uk/assets/Application-forms/February-2020/GIAtoJuniorISA2021-REWRITABLE.pdf. or is this not the case?0
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That is a form that has all the stages covered on it. i.e. sale of fund, withdrawal and reinvestment.Hitting said:Having done some further checks, this link suggests to me that it can be done without selling funds first.. https://www.chelseafs.co.uk/assets/Application-forms/February-2020/GIAtoJuniorISA2021-REWRITABLE.pdf. or is this not the case?
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
ie...Bed and JISA1dunstonh said:
That is a form that has all the stages covered on it. i.e. sale of fund, withdrawal and reinvestment.Hitting said:Having done some further checks, this link suggests to me that it can be done without selling funds first.. https://www.chelseafs.co.uk/assets/Application-forms/February-2020/GIAtoJuniorISA2021-REWRITABLE.pdf. or is this not the case?0
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