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Nov
04th

JUNIOR ISA By: Clare

The new Junior ISA launched on the 1st November, allowing an investment of up to £3600 per year on behalf of a child under the age of 18. They will be available to any child resident in the UK born on or after the 3rd January 2011 and replace the Child Trust Fund scheme. Funds put into this investment will not be accessible until the child is 18 and could prove an ideal method of saving for the growing cost of higher education.

The benefit from a parent’s point of view is that the parents will not face any personal tax charges which apply in respect of standard savings for minor children.

For help and advice please call Haxton Chartered Accountants.

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