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Bare Trust to junior ISA



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I assume that you are the sole Trustee of the Bare Trust and that it is you who are making regular gifts into Trust.
The beneficial owner of the assets within the Trust is your grandson and they must be used for his benefit.
https://www.taxinsider.co.uk/the-bare-essentials-bare-trusts-ta
https://www.gov.uk/trusts-taxes/registering-a-trust
He has the absolute right to access to and control of the assets within the Trust once he reaches the age of 18.
By choosing to sell assets and transfer money out of the Trust into your grandson's JISA, in effect you are moving his own money into his JISA.
https://www.moneyhelper.org.uk/en/savings/types-of-savings/junior-isas#:~:text=Junior ISAs let you save,away can grow even faster.
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Thanks for the info and links. There are in fact two other trustees my wife and my son and the regular contributions are split between me and my wife. I can see that I would in essence be moving money between my grandson's accounts. My concern is that I would be closing down the bare trust account which I am able to control and moving the proceeds to an account I am unable to manage, a junior isa.0
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My concern is that I would be closing down the bare trust account which I am able to control and moving the proceeds to an account I am unable to manage, a junior isa.
Your first post questioned whether you had the authority to move funds from the Bare Trust to the JISA.
If there are three Trustees, then it is likely (unless the terms of the Trust permit just one or two Trustees to sign) that the authority of all three would be needed to move the money from the Trustee account to the JISA.
Presumably there would be no difficulty about this.
With regard to the JISA, no, you cannot manage it but your son (who presumably is the registered contact) can.
If he has been content for you to choose the investment strategy for the bare trust, presumably he would accept your guidance on managing the JISA?
https://www.gov.uk/junior-individual-savings-accounts
That said, you should note
The child can take control of the account when they’re 16, but cannot withdraw the money until they turn 18.
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Can a child have a Junior ISA and a Bare Trust at the same time? as his grandmother I was going to open a Bare Trust with HL but I seem to be getting conflicting info on whether he can have both?0
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Thrifty_momma said:Can a child have a Junior ISA and a Bare Trust at the same time? as his grandmother I was going to open a Bare Trust with HL but I seem to be getting conflicting info on whether he can have both?Remember the saying: if it looks too good to be true it almost certainly is.0
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Thrifty_momma said:Can a child have a Junior ISA and a Bare Trust at the same time? as his grandmother I was going to open a Bare Trust with HL but I seem to be getting conflicting info on whether he can have both?
Yes, two separate and distinct account types. They can have multiple bare trusts with different trustees. They can only ever have a single Junior Cash ISA and a single Junior Stocks and Shares ISA, and a person with parental responsibility would be the registered contact for a JISA.
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