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.
Useful links
There is general information about the CTF scheme on the Directgov website.
- Junior ISAs launch on 1 November 2011 (Directgov)
