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Junior ISA frequently asked questions

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Junior ISA FAQ’s

Is my child eligible for a Junior ISA?
Your child must be resident in the UK and have been born on or after the 3rd Jan 2011.
If your child was born before Sept 2002 and they are still under the age of 18 then they are also eligible for a Junior ISA.

How many Junior ISA’s can my child have?
Each eligible child is only permitted to hold one of each Junior ISA (1 cash junior isa & 1
investment junior isa).
It is not required that both accounts must be held with the same provider.

My child has a Child Trust Fund. Can they still open a Junior ISA Account?
No, we’re afraid not. If your child qualified for a child trust fund then they are not eligible for a childrens isa.

Can Grandparents contribute towards a Junior ISA for their Grandchild?
Yes they can. In fact, any family member or friend can pay into a child’s isa account just as long as the total annual investment does not exceed £3,840 per tax year.

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Who can open a Junior ISA Account?
Only the parent(s) or the person with legal parental responsibility of the child can open an account for them.

What happens to the account when my child reaches 18?
When your child reaches 18 years of age the account will simply change to a regular ISA account and he/she can then have access to the funds.

Can I move my Junior ISA to a different provider?
Yes you can, If you are unhappy with the service or performance of your Junior ISA then you are permitted to transfer it to an alternative provider.

Can I open a Junior ISA Account through my independent financial advisor?
Most IFA’s will be offering the Junior ISA but please note that they will only be acting as an intermediary and will most likely charge an annual maintenance fee which will differ from each advisor.

Is there an alternative to the Junior ISA?
Yes there are many alternative savings and investments available for children. If you are at all unsure towards the suitability of any Junior ISA or other investment then it is strongly recommended that you seek independent financial advice as the value of any investment can go down as well as up.

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