This technical consultation sets out how previously announced changes to the CTF and Junior ISA rules will operate. You can read more about the measures in this policy paper.
The Government intends to:
- provide for the voluntary transfer of savings from a CTF to a Junior ISA
- simplify the rules relating to the bulk transfer of accounts
- defer the requirement on account providers to commence ‘lifestyling’ of stakeholder CTFs
- extend choice over who can manage and give instructions in relation to a CTF once an account holder reaches 16 years old.
These proposals will be of interest to:
CTF providers and Junior ISA managers
CTF and Junior ISA holders
- Parents and guardians of children with CTFs and Junior ISAs
Opening date - 3 November 2014
End date - 2 January 2015
Simon Turner, Specialist Personal Tax, Savings Scheme Office S0708, PO Box 201, Bootle L69 9AJ