What you need to know about Junior ISAs

JISAs

With Junior ISAs set to replace CTFs in November, Investment Week answers some key questions about the government's latest initiative to save for a child's future.

Junior ISAs are set to replace Child Trust Funds from 1 November and are the government’s latest initiative to help family members save for their child’s future. Family and friends can contribute a maximum of £3,600 each year into a cash or a stocks and shares account. From April 2013, the limit will be raised in line with the consumer price index. As with the adult ISA, any capital gains and income will be granted tax freedom. Who is eligible? The JISA is available to all UK residents under the age of 18 apart from those with a Child Trust Fund (CTF) – which applies to all childre...