Q&As

A grandparent wants to set up Junior ISAs for their grandchildren in order to invest shares on their behalf. A Junior ISA may only be opened by someone with parental responsibility for the child but could the children’s parent delegate power to the grandparent by ordinary power of attorney to open the accounts on the children’s behalf?

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Published on LexisPSL on 04/02/2019

The following Private Client Q&A provides comprehensive and up to date legal information covering:

  • A grandparent wants to set up Junior ISAs for their grandchildren in order to invest shares on their behalf. A Junior ISA may only be opened by someone with parental responsibility for the child but could the children’s parent delegate power to the grandparent by ordinary power of attorney to open the accounts on the children’s behalf?

We refer you to Practice Note: Individual savings accounts (see section on ‘Individual savings accounts—Junior ISAs’), which explains that the Junior ISA account is held in the child's name but the application to open the account must be made by a person aged 16 or over. Unless the applicant is the child themselves (aged 16 or 17 years old), they must have parental responsibility for the child. This person is then the registered contact and the ISA account manag

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