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What is a Junior ISA?

A Junior ISA is a tax-efficient way of saving on behalf of a child. In the current tax year, relatives and friends can save up to £4,260 for the child in a stocks and shares Junior ISA or a cash Junior ISA, or both. The account must be set up by the parent or guardian of the child and they are responsible for the account until the child turns 16. No UK Income Tax or Capital Gains Tax has to be paid on the returns from a Junior ISA.

With a Fidelity Junior ISA you can choose from thousands of funds, shares, exchanged-traded funds and investment trusts for a child’s savings. To help you choose investments, we offer market insights, planning tools and guidance from our in-house experts. You can invest with a lump sum or through a Regular Savings Plan.

All the money that goes into a Junior ISA belongs to the child, and they cannot withdraw it until their 18th birthday. At this point, they gain full control of the account, which retains its tax advantages and becomes an adult ISA. The account holder then has the option of saving further money in the account.

The person who sets up a Junior ISA for a child (the Registered Contact) is responsible for managing the account up to the point in which the child turns 16 where they can become the main account holder. Being the Registered Contact' means that person will receive statements and will be able to choose how the child’s savings should be invested.

Children who were born between 1 September 2002 and 2 January 2011 automatically had a Child Trust Fund (CTF) opened for them, and it is not possible to have both a CTF and a Junior ISA. The savings in a CTF can be transferred into a new Junior ISA, although Fidelity does not offer this service.

Find out more about the Fidelity Junior ISA.