About investing in this Junior ISA
- My Select (Junior ISA) is a medium to long-term investment of at least 5 years and ideally 10.
- As with all investments, it's important to be aware that the value can go down as well as up, so your child could get back less than you've paid in.
- Money in a My Select (Junior ISA) belongs to the child and they can only withdraw it when they reach 18.
- If the child withdraws money before the end of 5 years, there will be a £50 deduction from the withdrawal value.
About tax and Junior ISAs
- Tax treatment depends on individual circumstances. Tax law may change in the future.
- Tax-free means the policy grows free of income or capital gains tax (other than tax that's already paid i.e. on dividends from UK shares).
- There are two different types of Junior ISA - Investment Junior ISA and Cash Junior ISA - and your child can only have one of each.
- The current Junior ISA limit is £9,000 and this is the total anyone can invest across both types of Junior ISA for the child in each year.