Junior ISA explained
What the 2019-20 rules mean for your Junior ISA.
How much can you pay into a Junior ISA (JISA)?
The JISA allowance for the 2019-20 tax year is £4,368. The tax year runs from 6 April 2019 to 5 April 2020.
The allowance cannot be carried over if you do not contribute the full amount in one tax year. A Junior ISA must be opened by a parent or guardian, but after that, anyone can contribute to a JISA, whether they have parental responsibility or not. Contributing to a JISA will not affect your personal ISA allowance.
Historical JISA allowance
|Tax Year||Junior ISA Limit|
In a slight quirk of the Junior ISA system, 16 and 17-year-olds currently get two ISA allowances - £4,368 for a Junior ISA and £20,000 they can invest into an adult Cash ISA. Your child can open a Junior ISA if they do not have a Child Trust Fund (CTF) and are under the age of 18.
Junior ISAs and Child Trust Funds
You cannot have both a Child Trust Fund (CTF) and Junior ISA - but the rules do allow you to transfer your child's CTF into a Junior ISA. If you have made the decision to transfer your child's CTF into a Junior ISA you can open a Junior Stocks and Shares ISA, but you will need to fill out and complete the relevant transfer forms immediately.
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