A Junior ISA, or JISA, is a tax efficient* savings vehicle for adults to save on behalf of a child. The Jump JISA is an equity product that invests into Witan Investment Trust and is available to all those children (UK resident) who were not eligible for the Child Trust Fund ("CTF")**.
Why consider a Jump JISA?
- Although only parents or guardians can open a JISA on behalf of a child, any family member or friend can contribute towards the account
- You can invest up to £4,260 for the 2018/19 tax year
- You can transfer an existing Junior ISA to Jump without losing the tax benefits or transfer an existing CTF directly to a Jump JISA Account
- Any money invested in a Junior ISA belongs to the Child and under normal circumstances is locked away until the Child reaches the age of 18
- At age 16 a child can assume responsibility for the management of the Junior ISA and a Junior ISA is rolled directly into an Adult ISA when the child reaches 18 without selling the investment and without losing the tax benefits
- You can invest lump sums, or make regular monthly/quarterly contributions, or both
- You can choose whether to have dividends paid out or reinvested to buy more shares
- The annual management fee for the Jump Junior ISA is £31.60 (+VAT) per annum*
- Jump offers live online dealing and valuation functionality. We also offer telephone and postal dealing
Please see the Terms & Conditions for full details and it is your responsibility to seek investment advice before making an investment decision.
Unless we receive instruction prior to a child’s 18th birthday, Jump Junior ISAs will automatically roll into a Jump Savings ISA without losing the tax benefits*. The Jump Savings ISA is subject to the annual adult ISA allowance (currently £20,000). More information is available in the Jump Important Information and Terms & Conditions.
*The above is based on Witan Investment Services Limited's understanding of Revenue law and practice as at April 2018. Please note that tax assumptions may change if the law changes, and the value of tax relief (if any) will depend upon your individual circumstances. Investors should consult their own tax advisers in order to understand any applicable tax consequences. Witan does not provide tax advice.
**The CTF was the forerunner to the Junior ISA. Children born in the UK between 1st September 2002 up to and including the 2nd January 2011 were eligible for the CTF. Although no longer available to new-born children, existing Child Trust Fund accounts remain open to new investment. You can transfer an existing Child Trust Fund account to a Jump CTF or directly to a Jump JISA, providing the transfer value is a minimum of £1,000. Please see the Jump Terms and Conditions document for more information on the Jump CTF.