Junior ISA
Existing customer?
Looking to top up a child savings account? The easiest and quickest way for all our child savings accounts is our 24-hour online service. Log in using your Personal ID and password and top up by debit card.
Junior ISAs at a glance
- Invest up to €4,260 for the 2018/2019 tax year
- Child can access their savings from age 18
- No Capital Gains tax
- No Income tax
Is a Junior ISA right for me?
A Junior ISA is a tax efficient savings vehicle that allows you to save up to €4,260 for the 2018/19 tax year. The account is for the benefit of a child and is held in the name of the child, with all cash and investments belonging to them, however all investment decisions or instructions are given by a “registered contact” – typically the parent or adult who has parental responsibilities.
In normal circumstances this money cannot be withdrawn until the child is 18 (withdrawals are permitted in the event of ill health (terminal illness) or death). There is no capital gains tax liability within a Junior ISA and there is no further tax to pay on dividends. There is also no need to declare any gains or income received in the Junior ISA to HMRC.
If you’re happy for your child to be able to access their investments from age 18, making all their own decisions from then about how and when to take money out of their Account, then our Junior ISA may be for you.
A head start in life
Junior ISAs can be a great way to give your child a head start as they become a young adult. Their ISA could help buy a car, pay university tuition fees, put down a deposit on property. Or with anything else they need.
Time to transfer a Child Trust Fund (CTF)?
Most children born between 1 September 2002 and 3 January 2011 qualified for a CTF. The government put some money in and anyone could top this up on the child’s behalf.
Junior ISAs replaced CTFs from January 2011 and a child can only have one or the other. The good news is you can now transfer a CTF to a Junior ISA.
Why does this matter? No new CTFs can be opened so the firms that provide them may not have the incentive they once did to keep them competitive.
A few things to think about if your child has a CTF:
- How do the charges compare to our Junior ISA?
- Are you happy with the choice of investments on offer?
- What about the service? Can you switch investments and check the value of the account online for example?
INVESTING
Why invest with Us?
Account fees that don’t grow with your investment
Save regularly from €50 a month
Stop, start and change your payments whenever you like
24/7 access to manage your Junior ISA online
