Budget 2020: JISA savings limit to increase to £9,000 by 2020/21

From £4,368

Sophie King
clock
The amount families will be able to save into a JISA or CTF will be more than doubled
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The amount families will be able to save into a JISA or CTF will be more than doubled

Chancellor Rishi Sunak has pledged to double the saving limits for Junior ISAs (JISAs) and Child Trust Funds (CTFs) by 2020/21.

The accompanying Budget documents published on Wednesday (11 March), following new Chancellor Rishi Sunak's inaugural Budget speech in Westminster, revealed the amount families will be able to save into a JISA or CTF will be more than doubled in 2020/21. This will take the total amount families and children are able to save tax-free from £4,368 to £9,000. It is the biggest jump in the allowance since JISAs were launched in 2011. Darius McDermott, managing director of FundCalibre, called the move "a positive surprise". "It basically means that parents, grandparents and other family fri...

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Sophie King
Author spotlight

Sophie King

Professional Adviser journalist from 2018-2021

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