Junior ISA – The Tax Efficient Savings Vehicle For Children
Much has been made of ISAs in the past and how it’s a great way to save for the future, so much so that Junior ISAs have been launched to encourage parents, grandparents and other family and friends to help save for a child’s future….
Junior ISAs Explained
Since the Child Trust Fund scheme ended (to new applicants) in January 2011 there has been little to replace it but in November 2011 a new Junior ISA is to be introduced by the government to provide tax free savings vehicles for children. Unlike a standard ISA you can have separate cash and share-based accounts and with a much larger limit on yearly investment that CTFs, Junior ISAs seem like a good deal.