LISA/Junior ISA with Administration Order

adbarrett · 13 May 2018 at 11:32PM

Hi,

I have a friend who has an administration order. Would she be able to get a LISA or would this cause problems with the administration order? What about a junior ISA for her daughter?

Thanks!

Alexland · 14 May 2018 at 12:21PM

I guess it depends on the terms of the court order (which she should have been provided with) however provided she is making the required monthly payments then I see no reason why she cannot save other surplus income.

If she falls behind in repayments then this might be an issue as the LISA has a withdrawal penalty and the court might take a view on gifting the money (that could have otherwise been used for repayment) to a child via a Junior ISA.

Alex.

LISA/Junior ISA with Administration Order

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