JISA Allowance 20/21
Junior ISA Account Allowance 20/21
It has been announced in the March 2020 budget, that in the new tax year, April 6th 2020 to April 5th 2021, the JISA allowance will be increased from £ 4,368.00 to £ 9,000.00.
You have up to April 5th to utilise your child’s remaining allowance for the current tax year.
Who can open a Junior ISA Account?
JISAs can be opened by someone with parental authority on behalf of the child, usually the parent, they will be known as the “Registered Contact”. The registered contact will sign the JISA application form and make any investment decisions on behalf of the child.
The child can take over management of their Junior ISA account from the age of 16, but will not be able withdrawn the assets until they turn 18 years old.