Financial services

Junior ISAs

01 November 2011

On 26 October 2010 the Government announced that it would create a new tax-free children’s savings account, called Junior ISAs.

Press notice: Financial Secretary to the Treasury announces new tax-free savings account for children
Press notice: Junior ISAs launch today to help parents save for their children’s future

Junior ISAs were introduced on 1 November 2011 and will provide all parents with a clear and simple way to save for their children’s future. Children under the age of 18 who do not have a Child Trust Fund (CTF) will be eligible for Junior ISAs. Parents can save up to £3,600 a year tax-free into the new accounts. Funds in a Junior ISA will be locked-in until age 18 and will roll over (by default) into an adult ISA on maturity, to help foster a long-term savings habit amongst young people.

Following a period of consultation the Government laid Regulations, on 27 July 2011 amending the existing ISA (Individual Savings Account) Regulations, which set out how Junior ISAs will operate.

The final Junior ISA Regulations can be found on the legislation.gov.uk website (external website, opens in a new window)

A response to the Government’s consultation on the draft Junior ISA Regulations can be found below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.

Response to the Government’s consultation on the draft Junior ISA Regulations Response (PDF 113KB)

Junior ISAs

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