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CTF to jISA question
berneslai
Posts: 96 Forumite
Hi all,
I currently hold two F&C CTF policies for my children which I aim to move away from due to the fees levied on each account. It's just dawned on me that, whilst waiting for the April 2015 switching date, I haven't put any plans in place to actually obtain a junior ISA to transfer into!
If I open 2 junior ISA's now in lieu of transferring out of F&C in April 2015, is there anything I need to bear in mind? I've not yet noticed any small print regarding rules and regs of what I can transfer in to.
Thanks,
B.
I currently hold two F&C CTF policies for my children which I aim to move away from due to the fees levied on each account. It's just dawned on me that, whilst waiting for the April 2015 switching date, I haven't put any plans in place to actually obtain a junior ISA to transfer into!
If I open 2 junior ISA's now in lieu of transferring out of F&C in April 2015, is there anything I need to bear in mind? I've not yet noticed any small print regarding rules and regs of what I can transfer in to.
Thanks,
B.
0
Comments
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wait .. can you do this?
I have two CTF's somewhere for my two - i didn't think they could be touched at all!?!?0 -
The government were consulting. I guess all will become clear after the next budget.0
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Until April 6, the old rules still apply, i.e. you can't open a JISA for a child that has a CTF.
What would you consider the benefits of doing so before April 6?0 -
wait .. can you do this?
I have two CTF's somewhere for my two - i didn't think they could be touched at all!?!?
They can, from April 6.
https://www.gov.uk/government/news/government-to-allow-child-trust-funds-to-transfer-to-junior-isas0 -
good to know - thank you.
g0 -
Until April 6, the old rules still apply, i.e. you can't open a JISA for a child that has a CTF.
What would you consider the benefits of doing so before April 6?
I'd assumed that April the 6th was the day that a transfer from CTF was allowed, not the date that children with CTF's could apply for a junior ISA - my mistake, I thought I could open a new account now. I'll hang on until 6/40
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