Junior Individual Savings Accounts (ISAs) are a long-term, tax-free savings account for children. In the 2018 to 2019 tax year, the savings limit for Junior ISAs is £4,260. Junior ISAs are available for any children, living in the UK who are aged under 18.
Junior ISAs can be invested in cash or stock and shares. There is no income tax or capital gains tax to pay on the investments. They are managed by the child’s parent however the money belongs to the child. Once the child reaches 16 they can take control of their investment but cannot withdraw funds until they are 18.
You can’t have a Junior ISA as well as a Child Trust Fund.
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