Junior ISA allowance 2020/2021
What this year's rules mean for your Junior ISA.
What is the 2020-21 Junior ISA allowance?
The JISA allowance for the 2020-21 tax year is £9,000. The tax year runs from 6 April 2020 to 5 April 2021.
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
Junior ISA allowances are reviewed every tax year (6 April to 5 April). This table shows how the allowance has changed since 2015.
|Tax Year||Junior ISA Limit|
In a slight quirk of the Junior ISA system, 16 and 17-year-olds currently get two ISA allowances - £9,000 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
Both Child Trust Funds (CTF) and Junior ISAs (JISA) enjoy a tax-free allowance of £9,000 for the current tax year (2020-21)
If you choose to transfer a CTF into a JISA, the value of the CTF will not count towards your new JISA allowance.
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