A child’s parent or legal guardian must open the Junior ISA account on their behalf. You can open a Junior ISA for any UK child, as long as they are under eighteen. If your child holds a Child Trust Fund, this can easily be swapped over to a Junior ISA account.
Once the account is opened by a parent or guardian, anyone can make a subscription and contribute up to the yearly tax limit. This counts for parents, friends and relatives. Grandparents are often the main investors into child ISAs and once they have the details they can easily and quickly pay into the account online.
Only the child named on the Junior ISA account can access the funds, and this can only be withdrawn after their eighteenth birthday. You may, however, gain access in exceptional and unfortunate circumstances, such as if you put forward a terminal illness or death.
With the Children’s ISA you can open an account online, from the comfort of your own home. Simply choose which account you would like from our options and fill out our application form. Handy tip: you will need both your and your child’s National Insurance number, plus home address and your bank details to hand.
A Junior ISA or Junior Individual Savings Account is a simple savings account for your child and unlike regular savings accounts; you are allowed to keep any interest earned without having to pay income tax on it. The Tax Free Junior ISA was brought in to replace the Child Trust Fund in 2011.
We are an independent company who believe in offering the best possible products to help you save towards your child’s future. We have linked up with some of the largest names in the industry such as Prudential, Verbatim Asset Management, Aberdeen Asset Management and Eden Tree Investment Management to offer you excellent investment choices through a simple and flexible Junior ISA framework.
Any child who is resident within the UK and under the age of 18 can hold a Junior ISA Account. If your child was born between September 2002 and the 2nd January 2011 they will have a Child Trust Fund. If you Child holds a Child Trust Fund they will need to transfer this into a Junior ISA to become eligible.
To find out more about transferring your Child Trust Fund, visit our transfer now page>>
There are two different types of Junior ISA: The Junior Cash ISA and the Investment Junior ISA. The Cash Junior ISA works pretty much like a normal savings account and the Investment Junior ISA will hold investments such as fixed interest or stocks and shares for example.
Here at Children’s ISA we offer a wide range of investment approaches to cater for all different types of saver. Whether you are looking for a high or low risk, actively managed or low cost children’s individual savings account (ISA).
We also offer an ethical investment and Shariah compliant investment option ISA (which invests in line with the Islamic Investment Guidelines). Not all of us are fully knowledgeable in the world of finance and many of us do not know the difference between the hundreds of different investment funds you can place your Children’s ISA with. Because of this, we have tried to make our products as simple as possible to make the whole process of choosing your Children’s ISA easy and understandable.
For more information on each option please see our Key Features Document, which you can download here
The Junior ISA allowance for this tax year 2020/2021 is £9,000. That means that you can put contributions into your Junior ISA up to that amount or if you have a Junior Cash ISA and a Junior Investment ISA then you can not exceed that amount for the tax year across both accounts.
You are permitted to have only one of each Junior ISA savings plans per child (one Cash Junior ISA & one Investment Junior ISA). Please note that if your child holds one of each Junior ISA Account they do not have to be with the same provider.
Now. The Junior ISA was officially launched on the 1st November 2011 and here at The Children’s ISA we were open to new business from that date on.
You can apply online, by telephone or by post. Please visit our apply page for details of how to apply.
The Junior ISA was created to replace the Child Trust Fund and if your child currently has a trust fund in place then you will not be able to open a Junior ISA in their name as well. Whilst Child Trust Funds have now stopped, if you have one you can still keep it going and pay money into it.
A Child Trust Fund (CTF) is a long-term tax efficient savings account for children. The UK government introduced the Child Trust Fund scheme with the aim of ensuring every child has savings at the age of 18. All eligible children born between September 2002 and 2nd January 2011 received an initial subscription from the government in the form of a voucher for at least £250 to save in a CTF.
The annual deposit limit of the Child Trust Fund has also been increased £9,000 per year in line with the new Junior ISA Account.
The Children’s ISA does not currently offer a Child Trust Fund, however you can now transfer your Child Trust Fund to a Junior ISA by completing the Children’s ISA application form and Child Trust Fund Transfer form download here>>
Once we have received your completed form it will take roughly 2 weeks for us to contact the CTF provider and request the money be transferred into the Junior ISA account.
To find out where your child’s Child Trust Fund is held, visit the HMRC website.
It’s easy to transfer into one of our Junior ISAs. You can transfer your existing Junior ISA to The Children’s ISA by completing the application form and transfer request form. Which you can download here >>
Yes, Grandparents can contribute towards a Junior ISA for their grandchild / grandchildren. In fact, anyone who has an interest in the child’s financial future can pay into their Junior ISA Account as long as the annual contribution allowance is not exceeded.
The tax benefits of opening a Children’s ISA can be summarised as follows:
The funds held within a Junior ISA can only be accessed by the child from age 18.
The will need to fill in a maturities options form which will be emailed to you 3 months before the child’s 18th birthday.
They can then access the account online via our website.
You will have the following options:
You can only open a Junior ISA savings account if you are a UK resident for tax purposes. If you are employed by the crown (for example you are a diplomat or soldier work abroad) then you can open a Junior ISA.
If you move abroad after already opening an account then you are not allowed to make payments into the account. You can still keep the Tax Free Junior ISA in place and it will continue to earn tax free interest and when you return to the UK you are then able to continue paying money into it. If you are in any doubt then please contact your local tax office to confirm your status and eligibility.
We have several options from Low Cost to specialist funds which attract different costs. Our costs are detailed in our Terms and Conditions which you can view here download here
Some Junior ISA’s will offer what is known as a ‘cooling off period’ which allows you to cancel within a certain time limit (14 days for example). If you cancel within this time then payments you have made will not count towards an Junior ISA subscription for that tax year and you are free to pay money into an alternative ISA for the same tax year.
If you decide to cancel after your cooling off period then any payments will count as an ISA subscription and you are then not permitted to pay into another Junior ISA of the same type for that current tax year. However, you are able to transfer your Junior ISA to another Junior ISA Manager.
At the Children’s ISA full details of this can be found in the Terms and Conditions which you can download here
As an environmentally responsible company we don’t send an documentation or updates to you in the post; all communications are sent electronically. You will receive a 6 monthly statement communication and the statement will be added to your document store in your online account for you to login and view. We may also contact you periodically with updates and reminders, to ensure that you receive all of these communications please make sure that you add email@example.com to your email contacts and safe list.
Once your account is set up simply login via our website, get valuations, pay in to and administer your account. You will set your login details when you apply for our Junior ISA.
Please make a note of these details and then login to your account via our login page whenever you would like to view your account.
Yes, you can choose to invest in multiple funds as long as the minimum contribution of £10 per fund is met.
The website and the information contained therein should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than the UK. Past performance is not necessarily a guide to future performance and the value of your investment may fall as well as rise, and any income received in the form of dividends may fluctuate. You may not get back the full amount when the account is closed. If paying regular monthly contributions please bear in mind that if contributions are not maintained you will be less likely to achieve the investment amount that was originally projected.
The information on this website is not advice, it is provided solely to enable you to make your own investment decisions. The investments and /or investment services referred to may not be suitable for all investors.
The Children’s ISA Limited is authorised and regulated by the Financial Conduct Authority. (FCA No: 563043)
The Children’s ISA Limited is a company registered in England and Wales. Registered Company Number: 07486015
Registered Office: 1 Lowry Plaza, The Quays Manchester, M50 3UB.
Trading address: Unit 2, Digital Park, Pacific Way, Salford Quays, M50 1DR