We all want our kids to get the best possible start in adult life and a Junior ISA could help build a long-term investment for them.
When they turn 18 it could provide a handy cash sum for whatever they want - from a deposit on their first house, to paying for university costs.
Keep in mind stock market investments can go down as well as up, so your child could get back less than you've paid in. If the child withdraws money before the end of 5 years, there will be a £50 deduction from the withdrawal value.
Tax treatment depends on individual circumstances and tax rules could change in the future.
My Select (Junior ISA)
Use your child's Junior ISA allowance to invest for their future.
A selection of eight funds to choose from, so you can tailor your child's investment.
From £10 a month or more, a lump sum from £50 or transfer in from another Junior ISA provider.
Junior ISAs are designed to help people like you give your child a head start as they begin adult life. Here's a quick guide to how they work.
There are two types of Junior ISA: Cash Junior ISA and Investment Junior ISA. Your child can have one of each.
Your child's annual tax efficient allowance is £4,368 for the tax year 2019/2020. This is the total amount that you can save or invest in both types of Junior ISA.
Tax is not charged on any interest earned or gains made (other than dividends from UK shares) within an account.
Please remember tax treatment depends on individual circumstances and tax rules could change in the future.
Need help managing your child's Junior ISA?
It's easy to start managing your child's Junior ISA online with My Plans. But if you need some help getting things done, or aren't sure where to start, we've lots of FAQs and tutorials to get you going.