Quirk in the rules: The tale of an ISA loophole for lucky kids

ISA and CTF rules give tax planning opportunity

clock • 3 min read

Laura Suter explores the loophole that means you can save £36,000 in an ISA per child each year

One thing I'll say for our complicated tax system is that if you dig around you can unearth some gems of loopholes that can really maximise your savings. And I've unearthed one that means you can put £36,000 into an ISA per child in as little as a few months. Most advisers will already be aware of the strange loophole that exists whereby a 16-year-old benefits from both a junior and adult ISA allowance. It means you can put £9,000 into a Junior ISA for the child and another £20,000 into a cash adult ISA, for the two years until they turn 18. But this latest one, which the wonderful te...

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