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Child trust fund matured and closes

3 replies

fitflop · 26/01/2024 20:23

We have just closed my daughter’s child trust fund ISA. It had a bit over £20k and we want to open her a LISA and put the maximum £4k in and open another CASH ISA and put in £10k. Then in April add another £4k to the LISA. But now I’m worried this isn’t allowed as I should have transferred her CTF or are we ok as long as we don’t reinvest over £20k?

OP posts:
Waterfallsandrainbows · 26/01/2024 21:14

It’s fine you are not going over 20k plus you are splitting it over 2 tax years anyway.

I also think the LISA 4k does not count towards the 20k ISA limit.

missmollygreen · 26/01/2024 21:30

Waterfallsandrainbows · 26/01/2024 21:14

It’s fine you are not going over 20k plus you are splitting it over 2 tax years anyway.

I also think the LISA 4k does not count towards the 20k ISA limit.

Edited

The LISA 4k does count towards your 20k ISA limit

Waterfallsandrainbows · 26/01/2024 21:55

Thanks @missmollygreen I have just read it does apologies my mistake OP.

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