Can I, as a grandparent, pay money direct into my grandchild's ISA?

27 May 2021

Question by Colin

Can I as a grandparent pay money direct into my grandchild's ISA Account?

Answered by Nicola Crosbie

A Junior ISA must be opened first and foremost by someone who acts in a parental role for the child. Commonly this is a Parent or legal Guardian to the child. Once it is open, anyone can add to the pot including Grandparents. Just be careful not to exceed the annual limit of £9,000 per child (2021/22 tax year) if contributions are being made from numerous sources. Remember, a Junior ISA becomes accessible by the child on their 18th Birthday.

Answered by

Nicola Crosbie

Chartered Financial Planner

With 20 years’ experience behind her, Nicola takes a coaching approach to financial advice, helping even the most nervous investors to take control of their financial situation by empowering them to make more confident, positive decisions for the future. Based in Lochwinnoch, Scotland where she is the Director of Moran Wealth Management Ltd, thanks to secure remote-working practices Nicola supports clients all over the UK.