Children’s ISA’s
The Government has announced it will launch the Junior ISA, a tax-free savings accound for children, in Autumn 2011.
Here are the important points about the planned ISA
- Parents can open a Junior ISA for any child under 18
- Savings by parents and friends into the children’s ISAs become the property of the child, and are locked in until the child turns 18
- Savings growth in the Junior ISA is tax-free but, unlike the CTF scheme, there will be no government contributions
- Maximum savings limits for childrens ISAs have not been announced.
- The Junior ISAs will come in 2 types,cash and stocks and shares
This page will be up dated once we have more information
