SJP Junior ISA
Junior ISAs, also known as JISAs, are a great way to save or invest money for your children’s future.
Like all ISAs, you won’t pay Capital Gains Tax or Income Tax on them. There are 2 types of JISA; a Junior Cash ISA and a Junior Stocks and Shares ISA. Opening a Junior Stocks and Shares ISA while your children are still young means they’ll be benefiting from compound interest for even longer.
Please note that St. James's Place do not offer a Cash JISA.
Please note that an investment in a Stocks and Shares JISA does not provide the security of capital associated with a Cash JISA.
Can I open a Junior ISA?
If you’re the parent or legal guardian of a child under 18, you can open a Junior ISA for them. Any parent or legal guardian can open a Junior ISA for a child under 18 years old, and anyone can add money to their account, including grandparents, friends, and relatives.
The only exception to this is if your child already has a Child Trust Fund which can be transferred to a JISA if desired.
How much can I put into a Junior ISA?
The Junior ISA Allowance for 2024/25 is set at £9,000. As with other ISAs, you can’t roll any unused allowance over to the following year. Each child can have one Junior Cash ISA and one Junior Stocks and Shares ISA, and once they turn 18 these ISAs automatically become adult ISAs.
Can I withdraw money from a Junior ISA?
The money in the account can’t be withdrawn by anyone – not even you! – until the account holder is 18. Your child will have control of their JISA from 16. So they can then decide how much to save, or how often. They just can’t draw any money out until they’re 18.
Starting young
At SJP we believe it’s never too early to start learning about money and how it works. Regular saving from a young age is a great thing to encourage. It helps build confidence and money management skills right from the start.
You’ll be helping your child create their own future, when the time comes to leave home.
The value of an ISA with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than you invested. An investment in a Stocks and Shares ISA will not provide the same security of capital associated with a Cash ISA.
The levels and bases of taxation, and reliefs from taxation, can change at any time and are generally dependent on individual circumstances.
How much could a Junior Stocks and Shares ISA be worth?
Investing £250 a month*
*This calculation is based on growth after charges of 2.4% per year. The figure is an example only and not guaranteed. It is not a minimum or maximum amount. What you get back depends on how your investment grows and the tax treatment of the investment. You could get back more or less than this.
A little bit more about us
We believe that financial advice matters. Our goal is to give you access to financial guidance which will mean you’re better off long-term, and your financial choices support your personal goals and beliefs.
But your financial wellbeing matters to us just as much as the returns you make.
Putting you in control of your personal finances; how much money you have, how much you spend, or how much you’ll need to retire on is central to financial wellbeing. Answering those questions, and creating a personal plan to match is what SJP’s advice is all about.
The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
