chaz78

A question about holding Junior Isa's for my kids in the UK whilst living in Oz please. I've two daughters and we're moving to Oz on a permanent visa in a little under two months, we've got a jnr ISA for my eldest daughter and are thinking about one for the youngest but I'm being told a number of different things about implications when you move abroad.

I've just been informed by Family investments that my kids are able to have ISA's in the UK and that we are able to contribute into these whilst living in Australia with no penalties!

I have previously heard from speaking to the tax office that although we are allowed to hold Junior Isa's in the UK while we are in Australia we can't contribute into them!

We've no intention of moving back to the UK so will the kids be able to claim the ISA amount from the UK and move it to Oz if they choose to do so when it matures without tax penalty. Hope that makes sense and that others have been in similar positions.

Thanks
Charlie

louie

Have a look at the gov.uk website here. It says "If your child moves abroad, you can still add cash to their Junior ISA.".

I am almost certain that their tax free status in the UK will not be recognised in Australia, so they will have to pay tax as appropriate in Australia when the investments mature.