# Savings plan for children- Junior ISA type thing in Spain?



## sansylivin (Sep 16, 2013)

Hi All,

Another financial brain teaser for everyone. I have three children, 2 born in UK and 1 born in Spain. The 2 UK children have junior ISAs as they were UK residents when I opened their accounts- by the way there is no problem adding to these even when resident in Spain as they are considered by HMRC to remain UK residents fiscally unlike adults. 

My problem is my third child doesn´t have the same option and I can´t find anything remotely similar in Spain (ie tax-free savings/investment plan that children can´t touch until 18). Of course I want all the children to have the same.

Is anyone aware of such plans existing or trust arrangements etc for children in Spain all I see are bank accounts paying <1% interest and giving free toys!

Many thanks


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## snikpoh (Nov 19, 2007)

sansylivin said:


> Hi All,
> 
> Another financial brain teaser for everyone. I have three children, 2 born in UK and 1 born in Spain. The 2 UK children have junior ISAs as they were UK residents when I opened their accounts- by the way there is no problem adding to these even when resident in Spain as they are considered by HMRC to remain UK residents fiscally unlike adults.
> 
> ...


Really, do you have a link for this information as my children could NOT add to their ISA's.

All I can get for our children here in Spain is 0.1% interest - taxable!


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## sansylivin (Sep 16, 2013)

snikpoh said:


> Really, do you have a link for this information as my children could NOT add to their ISA's.
> 
> All I can get for our children here in Spain is 0.1% interest - taxable!


Hi Snikpoh,

The information I base this statement on was from an email reply from L&G investments - hopefully they know what they´re are doing or maybe they just wanted to take the money!

"A child who is resident outside of the UK can hold a Junior ISA as they are not deemed as a tax resident anywhere until they reach the age of 18. At this point we would need to confirm where they pay taxes as an ISA can’t be held by a person who pays taxes outside of the UK."


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## StewartL (Sep 5, 2013)

snikpoh said:


> Really, do you have a link for this information as my children could NOT add to their ISA's.
> 
> All I can get for our children here in Spain is 0.1% interest - taxable!


Here is a link from HMRC confirming a child can continue adding to a junior ISA once they have moved abroad.

https://www.gov.uk/junior-individual-savings-accounts/add-money-to-an-account


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## snikpoh (Nov 19, 2007)

sansylivin said:


> Hi Snikpoh,
> 
> The information I base this statement on was from an email reply from L&G investments - hopefully they know what they´re are doing or maybe they just wanted to take the money!
> 
> "A child who is resident outside of the UK can hold a Junior ISA as they are not deemed as a tax resident anywhere until they reach the age of 18. At this point we would need to confirm where they pay taxes as an ISA can’t be held by a person who pays taxes outside of the UK."


Thanks.

I would be a little concerned about their advice though because I've been told that you can hold an ISA provided you don't add to it once you move abroad.

The link doesn't say (that I found) but what are the conditions for opening a Junior ISA - do you know?


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## Pesky Wesky (May 10, 2009)

There's this one
https://www.triodos.es/es/particulares/ahorro/cuentas-particulares/cuenta-infantil/ongcolaboradoras/


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## sansylivin (Sep 16, 2013)

snikpoh said:


> Thanks.
> 
> I would be a little concerned about their advice though because I've been told that you can hold an ISA provided you don't add to it once you move abroad.
> 
> The link doesn't say (that I found) but what are the conditions for opening a Junior ISA - do you know?


StewartL provides a link to much more authoritative answer but I think the reason is probably that given in the email above. It is true you cannot add to an (adult) ISA once you move abroad as you are a non-UK tax resident, but as a child doesn´t have a formal tax residence until 18 you can add to a junior ISA if already opened in the UK (or an open CTF which is what my case was).

But you can´t open a junior ISA from outside the UK because in order to do so the child must be 1. under 18 and 2. live in the UK

https://www.gov.uk/junior-individual-savings-accounts/overview


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