Junior ISAs - fast facts
20th Apr, 2023
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•    A Junior Individual Savings Account (JISA) gives children the opportunity to start saving early within a tax-free wrapper. 
•    Up to £9,000 can be saved into a JISA in the 2023/24 tax year, and this can be invested in a cash JISA or a stocks and shares JISA, or allocated between the two.
•    JISAs may be switched between cash and stocks and shares, and the two different components can be held with two different ISA providers. 
•    A JISA can only be opened for a child under the age of 16 by a parent or a guardian with parental responsibility, but anyone is allowed to pay money into the JISA for the child’s benefit. 
•    The parent or guardian who opens the JISA will be responsible for managing the account and making all the decisions until the child reaches the age of 16. 
•    The money held within a JISA belongs to the child and the money cannot be withdrawn from the JISA until the child reaches the age of 18, (with a few very limited exceptions). 
•    A JISA will automatically turn into a full adult ISA when the child reaches 18. 
•    Until April 2015, children who were born between 1 September 2002 and 2 January 2011 were only eligible for a Child Trust Fund (CTF). However, these CTF savings can now be transferred to a JISA instead.  

Tags: ISAS, JUNIOR ISA, MEDIUM, JISA

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