Want to help your child pay for university fees, get on the property ladder, buy a car or go travelling? The sooner you start investing, the bigger lump sum you could build up for when they need it most. There are three options available:
Junior Individual Savings Accounts (ISAs) enable you to invest without having to pay Capital Gains Tax or further income tax on your profits.
Introduced in November 2011, the Junior ISA effectively replaces the Child Trust Fund. If you have a Child Trust Fund for your child already then you won't be able to open a Junior ISA as well. While the Junior ISA does not have a Government contribution like the Child Trust Fund, it does offer the same tax advantages of the 'adult' ISA and has a great range of investments to choose from.
Funds cannot be withdrawn from a Junior ISA until your child reaches 18 years old. Money paid in is a gift to the child and cannot be repaid.
Junior Investment account
While the Junior ISA offers the tax advantages when investing for your child, you may want to invest more than the Junior ISA allowance, so this is where our Junior Investment Account could help. The account is available for children of all ages and there's no restriction on how much you invest or when and where you invest. You can also take money out of a Junior Investment Account, unlike a Junior ISA or Child Trust Fund.
Child Trust Fund
All children born on or after 1 September 2002 and before 3 January 2011 qualified for a Child Trust Fund. The Share Centre offers two account options: Stakeholder and Child Investment Account. Whilst new accounts cannot be opened, existing accounts can still be used, and if you have an account with another provider it can be transferred to us.
Funds cannot be withdrawn from a Child Trust Fund until your child reaches 18 years old. Money paid in is a gift to the child and cannot be repaid.