child trust funds and kids ISA

[Caz and Ian]

Just wondered what anyone has done re child trust fund / ISA accounts if they have them for their children. Did you freeze them or are you continuing on paying in?

Just unsure of whats best to do, many thanks

[flossybeth]

We left ours as they stood (which, given they were all three in the Britannia, might not have been such a clever move!). We do intend, at some point, to resume paying into them and I know that one grandparent has continued with the direct debit but since the accounts belong to the children and not us there wasn't much that could be done with them and the bank has been quite accommodating in sending statements and such to us over here - we didn't need to keep a UK address to keep the account open (unlike my Halifax savings which had to be closed).

 

As far as I'm aware children's savings here are taxed so I'm not sure what the long term implications of these accounts might be for our children but it's definitely got to be better to have them than not.