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Halifax launches Junior Stocks and Shares ISA

17th November 2011 Print

Halifax launches its Junior Stocks & Shares ISA on Friday 18th November. The fund is simple, straightforward and aims to track the performance of the FTSE 100 Index. Customers are able to top up and value their investment online.

Simon Kenyon, Halifax Savings and Investment Director, comments: "We're proud to be able to support the Government's decision to extend tax-efficient savings for children. This will give families the opportunity to put money aside and know that their child will have access to the investment when they need it.

"The Halifax Junior Stocks & Shares ISA is a great way to give children a head-start as they enter adulthood and move into the next stage of their lives, whether that's going to university, entering the workforce or buying a home."

Saving for something special

For many parents, the Junior ISA will represent a 'university fund' for their children.

By investing over the life of an ISA, parents would be able to contribute to paying their child's university fees.

The Junior ISA will also give those not going on to university the ability to contribute to a deposit for a first home or get a great start in life.

Tax-efficient investments

The Junior Stocks & Shares ISA will mature into an adult ISA once the child turns 18 and providing the funds stay in an ISA, will continue to remain free from income and capital gains taxes.

Another advantage for children who turn 16 with an existing Junior Stocks & Shares ISA is they can also invest in an adult cash ISA, which will allow them to take advantage of tax-efficient savings on both accounts until they turn 18.

Deposits and withdrawals (after age 18) are only allowed in cash
Minimum opening balance £20
Maximum deposits of £3,600 per year
Annual fund management charge of 1%.

To apply, visit halifax.co.uk.