Individual Savings Accounts for children or Junior ISAs were introduced in November 2011 replacing Child Trust Funds. They are long-term, tax-free savings accounts for children who

  • are under 18
  • live in the UK
  • have not invested in a Child Trust Fund account.

If your child lives outside the UK, they can only open a Junior ISA if you are a Crown servant (for example, you work in the UK’s armed forces, diplomatic service or overseas civil service) and the child depends on you for care.

A child cannot have a Junior ISA as well as a Child Trust Fund account. A Junior ISA can be opened and the trust fund transferred into it.

There are two types of Junior ISA, namely a cash Junior ISA and a stocks and shares Junior ISA. A child can have one or both types at any one time but the total annual amount which can be paid into either or both combined is £9,000 (tax year 2024/25).

If the child is under 16 the account must be opened by someone with parental responsibility, e.g. a parent or step-parent, who then becomes the 'registered contact' and the only one who can change the account or provider. They should also keep all paperwork and report on any change of circumstances.

Anyone can put money into the account (providing the annual limit is not exceeded) but only the child can take it out when they are 18 years old. If they choose not to take it out or invest it in a different type of account, the Junior ISA will automatically become an adult ISA.

The money in the account can only be withdrawn before the child is 18 under two conditions:

  • The child is terminally ill, in which case the 'registered contact' can take the money out
  • The child dies, in which case the money will be paid to the person who inherits the child's estate.
!

THE VALUE OF INVESTMENTS AND THE INCOME THEY PRODUCE CAN FALL AS WELL AS RISE. YOU MAY GET BACK LESS THAN YOU INVESTED.

FOR ISA’S INVESTORS DO NOT PAY ANY PERSONAL TAX ON INCOME OR GAINS BUT ISAS DO PAY UNRECOVERABLE TAX ON INCOME FROM STOCKS AND SHARES RECEIVED BY THE ISA MANAGER.

TAX TREATMENT VARIES ACCORDING TO INDIVIDUAL CIRCUMSTANCES AND IS SUBJECT TO CHANGE.
 

London Stock Exchange

Value Move %
FTSE 100
8252.91 29.57 0.36
FTSE 250
21202.89 13.98 0.066
FTSE 350
4566.03 14.48 0.318
FTSE All Shares
4522.75 14.2 0.315
Dow Jones
40001.36 247.609 0.623
Nasdaq
18398.445 115.039 0.629

Currencies

Value Move %
0
1.191 0.003 0.231
GBP/NOK
13.922 0.09 0.652
0
13.663 0.119 0.877
GBP/USD
1.299 0.007 0.555

Biggest Movers

Value Move %
SEGRO
795.6 +52.4 +7.05
easyJet
477.8 -18.1 -3.65

Requestcall back form

Request call back.

or call us
0191 548 3333
 

0191 548 3333
63/65 Sea Road,
Fulwell,
Sunderland SR6 9BW.

office@advancedifa.co.uk