Farrell Financial Planning provide Junior ISA advice (JISAs advice) as part of our investment advice service. It is crucially important to take independent financial advice when considering any investment, including Junior ISAs.
Junior ISAs are long term, tax efficient savings accounts for children up to the age of 18.
The money saved in Junior ISAs can’t be taken out until the child is 18. It is important to take independent financial advice before making any decisions on Junior ISAs.
Your child can have a Junior ISA if they:
Your child can’t have a Junior ISA if they already have a CTF account.
Children aged 16 could choose to open an adult cash ISA as well as a Junior ISA.
There are two types of Junior ISA:
The money in the account belongs to your child and can’t be taken out until they are 18.
Once opened anyone can put money into the account. The total amount that can be paid into a Junior ISA in tax year 2023/24 is currently £9,000.
Contact us for more information and find out how our independent investment advice on Junior ISAs and other investments can help get your money working harder for you.
Investment returns aren’t guaranteed. The value of your investment can go up or down so you may get back less than you paid in. All information is based on Farrell Financial Planning’s understanding of UK law & HMRC practice in the UK. Tax and legislation are subject to change.