All About Junior ISAs

If you're interested in helping your child become financially independent, give them a head start with a Junior ISA

Holly Cook 11 March, 2013 | 7:30AM
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This article is part of the special series, Investing with ISAs.

Junior ISAs (also known as JISAs) offer parents and family members a tax-free way to save for their young children who do not have a Child Trust Fund (CTF). JISAs are just like ISAs, but as the name would imply, JISAs are for people under 18. These junior accounts were launched in 2011. You can get a Junior ISA from a range of banks, building societies, credit unions, friendly societies and stock brokers.

A child's parents, family and friends can contribute up to a total of £3,600 into a Junior ISA for the 2012-2013 tax year. For the 2013-2014 tax year, the limit is £3,720. (The maximum investment amount can change each year based on the consumer price index.)

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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About Author

Holly Cook

Holly Cook  is Manager, Morningstar EMEA Websites

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