What is a Junior ISA?
A Junior ISA (also known as a JISA) is a Junior Individual Savings Account for under 18s. It’s a tax-free way to put something aside for university, save for their first car or just help them achieve their goals. Their Junior ISA allowance can be invested into a variety of investment options.
How much can be saved?
JISAs have an annual limit on how much can be invested. Between 6th April 2018 and 5th April 2019 the Junior ISA allowance is £4,260.
The two types of Junior ISA:
Stocks & Shares Junior ISA
Cash Junior ISA
Your child can have just one type of Junior ISA, or split the allowance over both types. At Willis Owen we only offer Stocks & Shares Junior ISAs. Read on to see if our Junior ISAs are the right option for your child, and take a look at the key features of Stocks & Shares ISAs and Cash ISAs.
Is a Junior ISA right for you?
Right for you if:
You want tax-free Income and Capital Gains
You’re happy for the investments to be in your child’s name
Your child doesn’t have a Child Trust Fund, is under 18 and a UK resident
Wrong for you if:
You’re uncomfortable with any market volatility
You need the money in the short term
You’re not a UK Resident
Take a look at the Junior ISA frequently asked questions for more information on this account.
Don’t forget if your child has a Child Trust Fund, you can now transfer it to a JISA. As Child Trust Funds are now defunct, it is likely that a JISA will be more competitively priced and provide you with a wider range of investment options.
Invest up to £4,260 a year
Free from Capital Gains and Income Tax
Manage your investments online with ease
A wide range of investment options to support your child’s future