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Posted Wed, 27 Sep 2023 05:43:27 GMT by andy1
I'm planning to open Junior ISA for my son (10 years old) and transfer GBP 9000 into that account. Would this be considered a cash gift? Would there be any inheritance tax or any other tax implications for me or my son?
Posted Wed, 04 Oct 2023 12:45:34 GMT by HMRC Admin 25
Hi andy1,
No this would not be seen as a gift.
No inheritance tax will be due and there are no tax implications on the actual capital invested. further guidance is at:
Junior Individual Savings Accounts (ISA)
Thank you. 
Posted Thu, 05 Oct 2023 17:30:30 GMT by andy1
Thank you. Do I need to report cash transfer into Junior ISA account anywhere in my annual Self Assessment?
Posted Tue, 10 Oct 2023 13:13:09 GMT by HMRC Admin 17

No  .

Thank you.

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