Junior stocks and shares ISAs offer a tax efficient way of investing for your child. The Government launched this saving initiative for children in November 2011.
Only one junior stocks and shares ISA can be held by a child at any one time, but transfers are allowed between providers, or from a junior cash ISA to a junior stocks and shares ISA, and vice-versa. Once the child reaches 16, management of the account will pass to them, and they will gain access to the money when they turn 18. Because junior ISAs are intended to replace Child Trust Funds, which are no longer available to children born after 2010, those who already have a Child Trust Fund will not be eligible for a junior stocks and shares ISA.
For more information on tax-efficient investing for children and to request a brochure pack, complete our enquiry form.