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JISA & ISA

NathanNathan Member
in Technical stuff

Hi Hive

I have been told by a provider today that if a child with a JISA turns 18 after the 5th April, they can effectively use their JISA allowance and then once they turn 18 can also have the ISA allowance, so an allowance of £29,000.

Does anyone have any real life experience of this please?

N

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Comments

  • GarethMGarethM Member

    Hi Nathan,

    Yes, it's possible. We have done it with Transact. The junior ISA and adult ISA are two different allowances (i.e. the JISA doesn't form part of the ISA allowance like the LISA allowance does). The JISA is based on birth years and the ISA is based on tax years. With Transact you can either set up a separate ISA to do it, or you can top-up the adult ISA which was previously a JISA.

    Gareth

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  • NathanNathan Member

    @GarethM Thank you so much

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  • GarethMGarethM Member

    No worries, confirmation here of the rules.

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