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Junior ISA

A Junior ISA (JISA) is a tax efficient savings and investments account that allows parents, other family members and friends to contribute and invest for a child.

The Redmayne-Bentley JISA should only be considered for a child if you:

  • Intend to make sufficient contributions and investments, which are likely to provide tax benefits in the future.
  • Wish to make your own choices about where monies are invested or have an advisory or discretionary portfolio into which it can be incorporated.

Who is eligible for a JISA?

  • The JISA is available to any child resident in the UK under 18 years of age. If a child has a Child Trust Fund (CTF) the savings in the CTF can now be transferred to a JISA.

What are the benefits of a JISA?

  • The annual contribution limit has been held at £4,080 for the 2016/17 tax year.
  • A tax efficient lump sum at the start of adult life, which can be rolled into an ISA.
  • Ability to create a diverse portfolio from shares to fixed interest investments or even commodities.
  • A tax efficient account like an adult ISA; no further tax liability on the interest or dividends received.
  • Any profits from investments are free of Capital Gains Tax.
  • It is possible to select investments that pay interest and income gross.

What are the risks?

  • Investments and income arising from them can fall in value and the child may lose some or all of the amount that has been invested.
  • Funds cannot be returned to the contributor(s) once paid in.
  • You cannot restrict what the child does with the fund once they have access to their investments.
  • The commissions and other charges paid on transactions and the annual administration charge will affect overall performance.
  • Tax treatment depends on the specific circumstances of each individual and may be subject to change in the future.

How much does it cost?

  • The annual administration charge is £20 + VAT. For new JISA accounts this would be due for payment in October 2017.
  • Commission: 1.65 per cent (minimum £10) per transaction, 'settlement and compliance' charge (£10) and any applicable government taxes and duties.

Info Point

In March 2016 Redmayne-Bentley was named 'Best Advisory Stockbroker' at the ADVFN International Financial Awards 2016, the second consecutive year we have won this award.

Also for the second time in a row, we were awarded the title of 'Best Full Service Stockbroker' at the Investors Chronicle and Financial Times Awards 2015 towards the end of the year.

The firm also achieved 'Best ISA Provider' at the City of London Wealth Management Awards in March 2015.

Please note, we do not provide advice on life assurance and other financial planning products to private clients and therefore, we are recognised by the FCA as a 'restricted advice' firm.

For more information on our awards, please visit www.redmayne.co.uk/awards.

Execution-only share dealing Execution-only means that the stockbroker will carry out (i.e. 'execute') your instructions to buy or sell shares within your child's JISA account, but they will not advise on which transactions you should make.

We offer investment management services, allowing you to entrust your portfolio to our experienced investment managers, or take control of your investment decisions whilst still benefiting from our expertise.

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Investing For Children (PDF: 1.26 MB)

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