Junior ISA
On 1 November 2011 a Junior ISA scheme will be introduced for children living in the UK who are not eligible for a Child Trust Fund. Accounts will not receive any government payments but family and friends can contribute up to £3,600 in total to the account in each tax year. This limit will be annually indexed by the Consumer Prices Index from 6 April 2013 onwards.
The money in a child's Junior ISA account can only be taken out before the child’s 18th birthday if the child dies or is terminally ill.
