What you need to know
- Available to children under the age of 18 but has to be established by a parent or guardian of the child
- Offer the same benefits as an "adult ISA" meaning there are no tax liabilities on income or capital gains tax
- Contribute from as little as £25 per month or a lump sum of £500 (this reduces to £100 once the Junior ISA is established) subject to a maximum of £4,128 for the 2017/18 tax year
- Contributions into the Junior ISA can be accepted from anyone (for example, a relative or friend of the family - ideal for birthdays or Christmas presents)
- No access to the investments until the child reaches the age of 18 (although the child can begin to manage the investments when they turn 16 - a great way to help with their financial education)
- When the child reaches the age of 18, the Junior ISA can be converted to an "adult ISA" for them to continue saving or the accumulated savings can be withdrawn
Risks to be aware of
- Your money will be invested in the stock market and its value will fall as well as rise
- Income generated by your investments is variable and not guaranteed
- You could get less back than you invested
What else do I need to know?
Charles Stanley Investment Choices clients invest via the Cofunds Platform. To find out more about Cofunds click here.
How much does it cost?
0.37% per annum to Charles Stanley Investment Choices based on the value of your investments and charged monthly. This pays for the services that we provide to you including our quarterly Investment Choices magazine.
0.23% per annum to Aegon based on the value of your investments and charged monthly. This pays for the cost of administering your account.
A complete breakdown of your charges can be found here
What do I do next?
- Decide on which funds to invest into by referring to our magazine or if in doubt by calling us to discuss your options.
- Download the relevant application form and return this to us. If you are enclosing a cheque, ensure that it is payable to Cofunds Limited.