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IMPORTANT! Read the ISA Key Facts and our Charges Guide for all the details and before you make up your mind if our Junior ISA is right for you.
Please remember the value of your investments and any income from them can go down as well as up and you may get back less than the amount you originally invested.
All investments carry an element of risk which may differ significantly. If you are unsure as to the suitability of any particular investment or product, you should seek professional financial advice. We can't give you financial advice.
Laws and tax rules may change in the future without notice. The information here is our understanding as of April 2018. This information takes no account of your personal circumstances which may have an impact on tax treatment.
A Junior ISA is a tax efficient savings vehicle that allows you to save up to $4,260 for the 2018/19 tax year. The account is for the benefit of a child and is held in the name of the child, with all cash and investments belonging to them, however all investment decisions or instructions are given by a “registered contact” – typically the parent or adult who has parental responsibilities.
In normal circumstances this money cannot be withdrawn until the child is 18 (withdrawals are permitted in the event of ill health (terminal illness) or death). There is no capital gains tax liability within a Junior ISA and there is no further tax to pay on dividends. There is also no need to declare any gains or income received in the Junior ISA to HMRC.
If you’re happy for your child to be able to access their investments from age 18, making all their own decisions from then about how and when to take money out of their Account, then our Junior ISA may be for you.
Junior ISAs can be a great way to give your child a head start as they become a young adult. Their ISA could help buy a car, pay university tuition fees, put down a deposit on property. Or with anything else they need.
Please read our ISA Key Facts before deciding whether a Junior ISA is right for you and your child.
Most children born between 1 September 2002 and 3 January 2011 qualified for a CTF. The government put some money in and anyone could top this up on the child’s behalf.
Junior ISAs replaced CTFs from January 2011 and a child can only have one or the other. The good news is you can now transfer a CTF to a Junior ISA.
Why does this matter? No new CTFs can be opened so the firms that provide them may not have the incentive they once did to keep them competitive.
A few things to think about if your child has a CTF:
If you’re the registered contact for the CTF, just ask us and we’ll arrange it. The transfer value of the CTF won’t count towards your $4,260 investment limit either.
Your CTF provider might charge you for leaving. We won’t charge you for transferring to us.
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