Junior ISA annual allowance?

Junior ISA annual allowance?

• A. £1,000
• B. £20,000
• C. £9,000
• D. £2,400

Answer: (C)

The thing being tested is how much you can put into a Junior ISA in a single tax year. This amount is currently £9,000. You can pay into a cash Junior ISA, a stocks and shares Junior ISA, or split the £9,000 between them, but the total saved for that child in that tax year must not exceed £9,000. The allowance resets each tax year and is per child, not per account. It’s separate from the adult ISA limit, and when the child turns 18 the Junior ISA can be transferred to an adult ISA with its own limit.

The thing being tested is how much you can put into a Junior ISA in a single tax year. This amount is currently £9,000. You can pay into a cash Junior ISA, a stocks and shares Junior ISA, or split the £9,000 between them, but the total saved for that child in that tax year must not exceed £9,000. The allowance resets each tax year and is per child, not per account. It’s separate from the adult ISA limit, and when the child turns 18 the Junior ISA can be transferred to an adult ISA with its own limit.