Govt unveils 'Junior ISA' to fill CTF void

Laura Miller
clock

The government will launch a 'Junior Isa' for children next autumn to help fill the gap left by Child Trust Funds (CTF).

All returns on the Junior ISA will be tax free but unlike CTFs there will be no government contributions. Investments will be available in cash or stocks and shares and funds placed in the account will be owned by the child. Annual contributions will be capped and the money will be locked in until the child reaches adulthood. The government will now work with stakeholders to finalise the structure of the accounts, which it plans to have up and running by autumn 2011. Financial secretary to the Treasury, Mark Hoban, says: "The introduction of this new account means we can ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on ISAs

Time and patience: Will the British ISA revitalise UK equities?

Time and patience: Will the British ISA revitalise UK equities?

'The UK stock market currently navigates choppy waters'

Priscilla Chueng
clock 28 March 2024 • 3 min read
Half of UK adults would consider opening a Great British ISA

Half of UK adults would consider opening a Great British ISA

Current ISA savers most likely to take advantage of the new product

Isabel Baxter
clock 15 March 2024 • 2 min read
Advisers positive that Great British ISA will boost savings

Advisers positive that Great British ISA will boost savings

Almost two thirds say they think it will lead to an increase

Isabel Baxter
clock 11 March 2024 • 1 min read