How much can I save or invest each year?
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£9,000 in tax year 2023/2024 less any amounts subscribed to an Investment Junior ISA.
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£9,000 in tax year 2023/2024 less any amounts subscribed to a Cash Junior ISA.
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UK residents under 18 who weren’t entitled to a Child Trust Fund.
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UK residents under 18 who weren’t entitled to a Child Trust Fund.
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Anyone, though the Cash Junior ISA must be set up by a parent or legal guardian.
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Anyone, though the Investment Junior ISA must be set up by a parent or legal guardian.
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Short or long-term investment?
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Long-term - locked away until the child turns 18.
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Long-term - locked away until the child turns 18.
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No. The value of the initial investment steadily acquires interest until child reaches 18. Bear in mind that current low rates of interest could mean that the return your child receives on the money could struggle to outpace inflation.
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Yes. While the long-term potential returns are greater, the value of the child's investment can go down as well as up and they could get back less than you have paid in.
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Can I switch between accounts?
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Yes, you can switch to another Cash Junior ISA or Investment Junior ISA. Keep in mind the child can only have one Cash Junior ISA.
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Yes, you can switch to another Investment Junior ISA or Cash JISA. Keep in mind the child can only have one Investment Junior ISA.
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