Junior ISA (JISA)
A tax-free savings and investment account for children under 18. Parents, family, and friends can contribute up to £9,000 per year, with the money belonging to the child at 18.
How It Works
A parent or guardian opens a JISA for a child under 18. Anyone can contribute up to £9,000 per year. The money is locked until the child turns 18, when it converts to an adult ISA.
Tax Treatment
All interest, dividends, and capital gains are completely tax-free. The money belongs to the child and converts to an adult ISA at 18.
Tax Advantages
- All growth is completely free of income tax and CGT
- Separate from the adult ISA allowance
- No parental settlement rules on growth
Who Is This Suitable For?
Parents and grandparents building a tax-free savings pot for a child. The long time horizon suits a Stocks & Shares JISA.
Frequently Asked Questions
Can I withdraw before the child is 18?▾
No. The money is locked until the child turns 18, except in cases of terminal illness or death.
What happens at 18?▾
The JISA converts to an adult ISA. The child has full control and the balance does not count towards their adult ISA allowance.
Can a child have both a JISA and a CTF?▾
No, only one or the other. You can transfer a CTF into a JISA.