Cash ISAs for children - parental settlement?

benjaminfabi

Hi

A 16 year old can open a cash ISA. If the capital is gifted from the parents, does the income count for the purpose of parental settlement rules?

Does it escape by virtue of the ISA interest not being taxable?

Wildparaplanner

I thought the rules changed so that new cash ISAs can't be opened until age 18 now?

benjaminfabi

Transitional period is in place for a couple of years