The Junior ISA allowance was initally set at £3,600 per tax year. Launched in November 2011, the new Junior ISA allowance can be put into a cash ISA and a stocks and shares ISA, in whatever proportion the account manager wishes.
Intended to fill the gap left by the scrapping of Child Trust Funds, the Junior ISA allowance offers parents a tax-free way of saving and investing for their child's future. In the 2011/12 Budget, the Government confirmed its plans to see the Junior ISA be made available by the end of the year. The junior ISA limit is currently risen to £,4,000 in 2014-15.
For more information on investing in a investment junior ISA, request a brochure pack.