JISA (Junior ISA)
What is a Junior ISA?
A Junior ISA (JISA) is a tax-free account for children under 18. Parents, grandparents, or anyone else can pay in. The money belongs to the child, but they can’t withdraw it until their 18th birthday.
What types of JISA are there?
Two types:
- Junior Cash ISA. A savings account paying interest
- Junior Stocks and Shares ISA. An investment account for funds and shares
A child can have both types, but the total paid in can’t exceed the annual limit.
How much can you put in?
Up to £9,000 per tax year. This is separate from the adult £20,000 ISA allowance. It doesn’t count towards yours.
Who controls the account?
A parent or guardian opens and manages the account. They decide where to invest. But the money legally belongs to the child from the moment it goes in.
When the child turns 16, they can take over management of the account. When they turn 18, the JISA automatically becomes a normal adult ISA and they can withdraw whenever they want.
Can you withdraw early?
No. The money is locked until the child turns 18. This is the main difference from saving into a normal account on their behalf.
There are exceptions for terminal illness or if the child dies, but otherwise the money is untouchable.
Why use a JISA?
Tax-free growth over 18 years can add up significantly. If you’re saving for a child’s future (university, first car, house deposit), a JISA protects the gains from tax.
The lock-in also stops the money being spent early. Though that cuts both ways. At 18, they can spend it on whatever they like.
Scrimpr’s ISA comparison covers more platforms than any other UK guide.
Compare ISA Platforms →Key points about Junior ISAs
- Tax-free for under-18s. No tax on interest, gains, or dividends
- £9,000 annual limit, separate from adult ISA allowance
- Locked until 18. No early withdrawals
- Child owns the money. They get full control at 18
More information
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