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Posted Wed, 03 Jan 2024 23:52:23 GMT by
A junior isa was converted into an adult ISA when the child turned 18 in May 2023. is this young adult now entitled to a full £20k contribution allowance into adult ISA in 2023-24 year regardless of contributions into his junior ISA prior to conversion in late April 2023?
Posted Wed, 10 Jan 2024 17:55:08 GMT by HMRC Admin 20 Response
Hi ap823,
The ISA is limited to £20000, now that it is converted from a junior ISA.  
Your ISA provider will be able to provide you with further information.
Thank you.
Posted Sun, 03 Nov 2024 19:27:01 GMT by Caroline13
So, we paid £9k into my daughters JISA in April 24, she turned 18 in September, her JISA matured and we moved funds to an ISA. Can we now pay £20k into it, or is it reduced by the amount paid into the JISA.
Posted Thu, 07 Nov 2024 16:11:26 GMT by HMRC Admin 34 Response
Hi,
The amount is reduced by the JISA. The 20k limit applies over all ISA opened and deposits in the same tax year.
Thank you

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