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Independent, no-nonsense ratings and reviews
Suzanne | Greater London| 08/05/2018 | 0
Can I move an old Child Trust Fund?
Hi!
In 2015 changes came in that meant that as the parent you now have the choice of transferring to a junior ISA if you wish.
This was a victory to parents for these babies born between September 2002 and January 2011, as Child Trust Funds (CTFs) were a great idea but pay worse rates than junior ISAs, available for children born outside these dates.
Both accounts allow up to £3,840 to be saved tax-free. CTFs were set up with Government vouchers of between £50 and £250, but parents are not given vouchers to fund junior ISAs.
Money in a CTF or a junior Isa cannot be withdrawn until the child's 18th birthday.
Hope this helps,
Holly
We are not regulated to give personal financial advice - This isn’t full-fat regulated financial advice. Boring Money is a publisher and not regulated by the FCA.
This means we can't help with specific personal circumstances or recommend specific investment products. It also basically means that if we say something daft, you have no recourse to come back and complain.
We’re only allowed to give you a steer or share an opinion or tell you the facts - That said, we promise that our answer to you is an independent unbiased perspective with no commercial gain to make. If you need regulated financial advice, you can find a good adviser via sites such as Unbiased & Vouchedfor.
Holly Mackay
Founder and MD of Boring Money, Holly Mackay has been working in the investments space since 1998. She read Modern Languages at Oxford, with a special focus on Mediaeval French which was deeply interesting and arguably utterly useless.
I want to move my children's stocks and shares ISA to a robo adviser - what are my options?
Funmi | LDN | 12/10/2020 | 9
I really don’t like this market meltdown during the coronavirus outbreak. Should I sell and just get out?
| 19/03/2020 | 18
I can't decide between getting a Junior ISA with a robo investor like Wealthify, or investing via Interactive Investor with an investment trust for my son's JISA. I want to invest ethically and am happy to research investment trusts myself. The fees seem similar and both have fund managers. What should I do?
Rick | Sussex | 01/07/2019 | 3
My son has a savings plan with Witan Jump that is now being closed and transferred to Hargreaves Lansdown. However, Hargreaves informs me that I cannot transfer all the money (£26,000) into a Junior ISA account, because it's more than the £20,000 yearly ISA allowance. I would like to keep the remaining money invested, but would appreciate some advice as to how I could invest it for my son.
Isabella | Kent | 19/06/2019 | 0
I have put the full allowance into my daughter's JISA. If for some reason I passed away, would the amount over £3000 per year be liable for inheritance tax?
PB | Derby | 18/06/2019 | 2
I'm in my late 30s, have a mortgage, a baby, no outstanding loans or credit cards, three pensions, and two Cash ISAs. I’d like to invest to renovate our house, help fund our children’s education and help them onto the property ladder, and retire as soon as possible! I considered a LISA but thought I might be better paying off more of the mortgage. I'm also confused about using a platform for a Stocks and Shares ISA. Any advice would be appreciated! Keep up the good work, I’m impressed with how refreshingly approachable your website is.
Nick | Berkshire | 29/05/2019 | 5
I currently have a Stocks & Shares ISA and a Junior ISA with Wealthsimple. I am considering changing these to Vanguard, but I am unsure if transferring across providers is a simple process. Also can you only pay into one of each type of ISA per year?
Philip | County Antrim | 21/05/2019 | 2
I have a young boy who will be turning 4 this month. He is British. I want to save some money for this innocent boy, for when he comes of age, but I live in Uganda and I am not in touch with his mum. Can I open a Junior ISA for him?
Dennis | Uganda | 11/04/2019 | 0
Our 16 year old son has inherited a significant sum. He wants to go to Drama School and pursue a career in acting, which we know means he is likely to be low paid/short of cash. I wondered how best to help him organise his savings/investments to help fund him through drama school/the early years, whilst trying to discourage him from simply dipping into his capital?
Mo | West Sussex | 04/04/2019 | 4
Where can I get a good Junior ISA?
Rebeccah | Greater London | 27/03/2019 | 5
I’m 36 years old, earn £85k, and have about £40k savings in the bank, mainly in an old ISA that I’ve done nothing with. I have a five year old daughter and would like to put my savings somewhere clever so they start to do something useful by the time she starts at an independent secondary school and fees go through the roof. Any bright ideas please?
Milly | Berkshire | 22/02/2019 | 2
Hello Are there any specific pensions you would recommend, with low charges, which I can set up for my 11 yr old son? I am already paying the maximum into a Junior ISA. Anita
Anita | West Sussex | 18/06/2018 | 3
I would like to open a Junior shares ISA for my Grandson for about £50/month. How do I go about it and can you recommend some reliable companies?
Roger | Surrey | 26/04/2018 | 2
I am very lucky to have just received a gift which I want to invest for our retirement. My husband and I aim to retire in around five years. We have 11 more years of school fees to fund, then hopefully university fees for two after that. I've put together a plan for us - can you have a look and see if it makes sense?
Fiona | UK | 18/01/2018 | 6
We have four grandchildren (2 English living in UK, and 2 Irish living in Eire). We have decided to start savings plans for their futures. Their ages are 18yrs, 11yrs, 8yrs and 4yrs respectively. My age is 75yrs, and my wife is a little older. What should we do, please?
John | Buckinghamshire | 01/01/2018 | 1
I have a delightful 12 year old daughter and she has just opened her first bank account. I am dreadful with money but I would like to know what I should teach her so that she does not pick up my bad financial habits. Do you have some top tips of things to teach our children so they are wise and responsible with money please?
Louise | Greater London | 11/09/2017 | 1
Pensions vs ISA - which one is best?
Roderick | Greater London | 06/09/2017 | 0
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