Junior ISA’s now available

Since 1 November Junior ISA’s have been available. Each eligible child ISA account has an annual savings limit of £3600. The new accounts offer parents a simple and tax free way to save for their child’s future.

Junior ISAs are long term, tax-free savings accounts for children up to the age of 18. The money saved in a Junior ISA can’t be taken out until the child is 18. Your child can have a Junior ISA if they are under 18, they live in the UK and are not entitled to a Child Trust Fund (CTF) account. Your child can have both a Junior cash ISA and a Junior stocks and shares ISA. If they do, the total amount that can be paid into the two accounts combined in each tax year is £3,600. For example, £1,000 into a cash Junior ISA and £2,600 into a stocks and shares Junior ISA.

If you require further details then speak to your Independent Financial Advisor now to find out more or alternatively give us a call on 01733 371180 and we will put you in touch with our recommended a Independent Financial Adviser.