Friends & Family Junior ISA
Our new Junior ISA allows friends and family to easily gift money for a child’s future, via a secure webpage shared by the parents
We have launched a pioneering new product to make saving for your child’s future simple, quick and flexible. You can now invest for your child’s future at the click of a button.
Available to UK resident children aged under 18 who don’t have a Child Trust Fund. Or you can transfer your Child Trust Fund into our Junior ISA.
Our Friends & Family Junior ISA enables parents, grandparents, godparents and friends to easily pay into an account which could help the child build up valuable funds to use when they reach adulthood. It might help to pay towards university, a deposit on a flat, or even flying lessons.
Payments can be as little as £5 per month or £10 lump sum, up to £4,128 per year. And we can accept payments by debit card, direct debit, bank transfer and cheque.
Easy to manage
You can easily share requests with your family to help them pay into your child’s ISA easily and efficiently and they can even choose where they might want your child to spend the money when they reach 18.
Potential for growth
There’s also the possibility of an annual bonus being added to the account.
A tax free lump sum for your child
There’s no income tax or capital gains tax payable on the final amount.
Important Information about our Junior ISA
- It is important to remember that anything paid into a Junior ISA is a gift to the child and can’t be repaid. Junior ISAs can’t be accessed until the child reaches 18 and the child can choose how to spend the money when they withdraw it.
- Our Junior ISA is a stocks & shares ISA investing in our with profits fund. The investment performance of the ISA will depend on the performance of the with profits fund, expenses and other factors.
- Any bonus declared is applied to the account annually. Bonus rates are not guaranteed and past bonus rates cannot be used as a guide to future bonus rates.
- If you transfer the account to another provider before the child reaches 18 then a penalty may apply due to investment performance of the fund up until that date which may, in certain circumstances, result in your child getting back less than paid in. However, if your child withdraws from the account on their 18th birthday then they will receive back everything that has been paid in plus any bonuses added to the account.
- Tax treatment may change in the future and tax advantages depend on individual circumstances.
- As the cost of living increases, the final amount in the ISA might not buy as much in the future as it could now.
Please make sure you read the Key Features and Terms & Conditions booklet before applying. These contain essential information about the Junior ISA. Additionally there are questions & answers below that will give you extra information about the Junior ISA.
We are not able to offer advice and if you are unsure about whether this product is suitable for you, you should seek advice from an independent financial advisor who may charge for this.
- Parents, friends and family can save up to £4,128 in the current tax year
- Available to UK resident children under 18 (if the child has a Child Trust Fund they can only open a Junior ISA by transferring their Child Trust Fund into a Junior ISA)
- Affordable investments from as little as £5 per month or lump sum payments from £10
- Tax efficient
- Contributions to the Junior ISA are gifts to the child and cannot be accessed until age 18
- Flexibility to stop and start payments
- Potential for growth by possible addition of bonuses
- A penalty, known as a market value reduction, may be applied if the account is transferred to another provider before the child reaches age 18
- If the Junior ISA is not redeemed at age 18 then it will roll-over into an adult ISA and the terms & conditions of the adult ISA will then apply
For any further details on any of our products please get in touch:
Where are my premiums invested?
The premiums are invested in the Kingston Unity With-Profits Fund which invests in a mixture of assets such as property, fixed deposits, shares and cash.Find out more
Login to your FFJISA Dashboard
Log into your dashboard by the button belowLogin
Don’t know where your child’s CTF is invested?
If you do not know where your child's CTF has been invested, please follow the link below and complete the form. HMRC will then write to you with confirmation details.Take a look
Friends & Family Junior ISA – Key Features
Includes product guideDownload
A Guide To Our With Profits Fund
Our consumer friendly Principles and Practices of Financial Management which explains how we manage our With Profits fund.Download
Friends & Family Junior ISA application pack
Download our application pack and use this if you do not wish to apply online. Please return the forms to us at 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ. Instructions for completion are within the pack, or call us if you need further information.Download