The Jump Savings Plan is a simple savings account that can be opened by an adult on behalf of any child. Jump is an equity product that enables you to make regular or lump sum investments into Witan Investment Trust on behalf of a child.
Why consider a Jump Savings Plan?
- Any adult can open a Jump Savings Plan for any child up to the age of 18 and any family member or friend can contribute towards the account
- By placing the investment into a Bare Trust, you can make the investment tax efficient*
- There are no upper limits to how much you can invest into a Jump Savings Plan and the money can be accessed at any time*
- You can choose whether to have dividends paid out or reinvested to buy more shares
- The annual management fee for the Jump Savings Plan is £31.60 (+VAT) per annum** and there are no dealing charges (other than the government stamp duty, currently 0.5% on all equity purchases)
- Jump offers live online dealing and valuation functionality. We also offer telephone and postal dealing
- The dealing charge is £15 for lump sum dealing. There are no dealing charges for regular savings or dividend reinvestment
The above is based on Witan Investment Services Limited's understanding of Revenue law and practice as at April 2017. 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.
*There is a limit to the number of shares you can buy or sell through our straight through dealing service; the minimum transaction is £500 and the maximum £40,000, subject to market price providers.
**The annual management fee increases in line with inflation (UK Consumer Price Index) every 3 years compounded. In accordance with this policy, there will be an adjustment in line with inflation in 2017-2019 applied to the Annual Management Fee with effect from 6 April 2020 and every 3 years thereafter.
Please see the Terms & Conditions for full details and it is your responsibility to seek investment advice before making an investment decision.