How to build solid foundations with a JISA

JISAs

clock • 6 min read

With its first tranche of annual allowance expiring, now is the time to look at the Junior ISA, says FundsNetwork's Paul Kennedy.

The junior ISA (JISA) sweeps aside many of the tax problems and legal issues associated with investing for children, provides additional advantages over the child trust fund (CTF) and offers scope for added inheritance tax (IHT) and capital gains tax (CGT) planning. All UK resident children who do not have a CTF are eligible for a JISA. It is the child's residence at the time of opening the JISA that counts and future non-UK residence does not prevent further contributions being made. By default, the JISA will roll over into an adult ISA on the child's 18th birthday meaning that one o...

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 Your profession

March 2024: Month in review with deputy editor Jenna Brown

March 2024: Month in review with deputy editor Jenna Brown

Take a look at some of the news and feature highlights of the last month

Jenna Brown
clock 28 March 2024 • 5 min read
Wren Sterling adds £265m in client assets in latest deal

Wren Sterling adds £265m in client assets in latest deal

First advisory firm purchase of 2024 for national financial planner

Jenna Brown
clock 28 March 2024 • 1 min read
Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

New Talent Alliance will be chaired by M&G Wealth Advice MD Tom Hegarty

Isabel Baxter
clock 27 March 2024 • 2 min read