Budget 2013 Child Trust Transfer Junior ISA
Published / Last Updated on 12/03/2014
Budget 2013 Child Trust Transfer Junior ISA
The Budget 2013 smallprint confirms that there will be a consultation for transferring Child Trusts FUnds to Junior ISAs.
The Child Trust Fund was established by Labour for children born after 1 September 2002.
This was then abolished by the coalition government, ending on 02 January 2011and replaced by the Junior ISA (JISA).
There is around £5bn sat inside Child Trust Funds and it seems unsensible for investment companies to runs both CTF's and JISAs.
It simple makes sense to allow these schemes to all be transferred into one piece of tax legislation and one type of investment wrapper.
This will help both parents and investment companies.