Junior ISA allowances are changing in a few days – how much more will you be able to save?


ISAs can usually have up to £20,000 saved within them in a tax year. This £20,000 can be put into a single account or split among different types. Currently, there are four types of ISA account.

Unlike other ISA accounts, the savings limits is £4,368

It is important to add as much money as possible to junior ISA accounts as any unused allowances will be lost.

This will likely be important for junior ISA holders as it is much more achievable to put in the maximum amount, when compared to regular ISA accounts.

The tax year in the UK runs from 6 April to the following 5 April.

Rob Morgan, an Investment Analyst at Charles Stanley Direct explained how planning now could help with future costs.

As he detailed: “Junior ISAs are a popular way for family and friends to build up tax-efficient savings and investments for a child.

“The tax benefits are the same as an adult ISA – no capital gains tax, and no further tax to pay on income.

“Withdrawals are possible from the age of 18 when it automatically converts to an adult ISA, meaning the pot can be useful to help with the cost of university or a deposit for a house.”



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