TSCTrade Execution Only Stockbroking in London

City of London Execution Only Stockbrokers

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Open a Junior ISA with TSCTrade Execution Only Stockbrokers

Junior Stocks & Shares ISA

What is a Junior ISA?

The Junior ISA is tax efficient, both for the child holding the policy and their parents. Designed for adults to save and invest on behalf of children. TSCTRADE only offers the Junior Stocks and Shares ISA (JISA) and there is an annual Administration Charge of £20 + VAT.

Key Information

  • The initial Junior ISA allowance (limit) is set at £4,080 per annum from the remainder of 2015/2016 tax year.
  • The government will not contribute towards a Junior ISA like they did with the Child Trust Fund.
  • Any child with a Child Trust Fund will not currently be able to transfer it to a Junior ISA.
  • This allowance can be split between a Cash ISA and a Stocks & Shares ISA.
  • Anyone can contribute towards a Junior ISA including parents, grandparents, family members and friends.
  • A parent or guardian can open a Junior ISA for an eligible child.
  • The account is held in the child's name, but opened and managed by a parent or guardian.
  • Parents have the option to allow their child to manage the Junior ISA from the age of 16; however the child cannot withdraw any capital until age 18.
  • No withdrawals are permitted until the child reaches the adult age of 18 years and the child then has full access to their capital. [except in cases of terminal illness or death].
  • The tax benefits are the same as an adult ISA - no capital gains tax and no further tax on any income. [Tax rules can change over time and the benefits to your child depend on their individual circumstances.]

Who is eligible for a Junior ISA?

  • All UK resident children (under 18 years of age) who were not eligible for a Child Trust Fund (CTF) would be eligible for a Junior ISA. This includes children born before the start of the CTF in September 2002.
  • Children born on or after 3 January 2011.
  • Where a child has a CTF, this can now be transferred to a Junior ISA. Once the transfer of the CTF is complete further contributions can be made to the Junior ISA.