What is a Junior ISA?
A Junior ISA (JISA) is a tax-efficient way to invest for your child under 18. You can currently pay in up to £4,368 this tax year, and your child’s money could grow tax-free.
It works just like an ‘adult’ ISA, except the money can only be taken out by the child when they turn 18. When they reach 18, the money belongs to them.
You can have both a Stocks and Shares Junior ISA and a Cash ISA for your child, just as long as the contributions don’t exceed this year’s annual allowance of £4,368.
Did you know?
(on average) is invested by parents into children's savings accounts each year
was invested into Junior ISA accounts in 2017-18
of parents have set up some form of savings for their children. Nearly eight in 10 of those parents deposit into their child's savings regularly
Our Junior Stocks and Shares ISA features
Open a plan with as little as £50 a month, or a lump sum of at least £1,500. You can apply online in minutes.
✓ Easy to manage
Stop, start, increase or decrease regular contributions, and pay in lump sums at any time, up to your child’s annual Junior ISA allowance. Login to Member Zone to view and manage your investment.
✓ Hassle-free transfers
Easy transfer of existing Junior ISA or Child Trust Fund, without affecting your child’s annual Junior ISA allowance for this tax year.
✓ Potential to boost your child’s ISA even further
Our Investment Booster and Healthy Living Discount could add extra money on top of returns.
Capital at risk
Special offer - 100% cashback on your first year's product charges
Why a Vitality Junior ISA is different
You'll get all the same features as other Junior Stocks and Shares ISAs, plus three unique benefits:
1. You could earn extra money - on top of returns
Our unique Investment Booster rewards loyalty by adding extra money to your child's ISA every 5 years, when you invest in Vitality funds
2. Access to discounts from leading brands
Open a Junior ISA with us and you'll automatically be part of our Vitality Core healthy living programme which includes a range of discounts from well-known brands, including Champneys and Garmin
3. You could pay no product charge
Maintain healthy lifestyle habits and you could save up to 100% on the product charge with our Healthy Living Discount
Junior ISA allowance for tax year 2019-20
£4,368 per child
Transfer a JISA or Child Trust Fund to us
It’s easy to transfer your child’s existing Child Trust Fund or Junior ISA to a VitalityInvest Junior ISA. All you need to do is open a Junior ISA online and let us know how much you’d like to transfer in. You could breathe new life into your child’s investment with our Investment Booster and Healthy Living Discount.
Capital at risk
Find out more
A world of funds from leading investment managers
Plus, we offer a range of over 2502 complementary funds from other well-known providers. Select Build a Portfolio when setting up your child’s ISA to add these to their plan.
What are our Junior ISA charges?
Product charge – this starts from 0.5%p.a. It’s tiered so the more you invest, the less the charge rate you pay. And with the Healthy Living Discount you could reduce the product charge. In fact, you might not have to pay one at all.*
Fund charge - for the ongoing management of the funds you choose.
For more details please read:
VitalityInvest Junior ISA Plan Summary
Terms and Conditions
A few things to consider before you start
If you’re opening a VitalityInvest Junior ISA without taking financial advice, please remember that:
- Returns on your investment aren’t guaranteed
- You won’t be able to withdraw any of the money – only your child can do that, when they turn 18
- To open a Junior ISA you must be at least 18 years old, and a UK resident for tax purposes, as defined by Her Majesty’s Revenue & Customs (HMRC)
- You’ll be opening and managing the Junior ISA online
- Your child must also be a UK resident, as defined by HMRC
- The value of your child’s Junior ISA may go down as well as up and you may get back less than you invest
- Tax efficiency of JISAs depend on personal circumstances and their tax rules may change in future
Junior ISA FAQs
What types of Junior ISA are there?
• Stocks and Shares Junior ISA - invests in funds, unit trusts, bonds and shares in companies. You can decide the exact make-up of your ISA, and you can change it whenever you like.
• Cash Junior ISA - works much like an ordinary savings account, except you don’t pay tax on the interest. It’s usually based on investments in bank and building society savings accounts, and some National Savings & Investments (NS&I) products.
What's the difference between a Junior ISA and a Child Trust Fund (CTF)?
• A Junior ISA gives you more say in what kind of assets your money’s invested in
• When your child turns 18 a Junior ISA can stay invested as an ‘adult’ ISA, while a CTF has to be converted into cash
How much can I pay into a Junior ISA?
What makes a Junior ISA tax-efficient?
Can I transfer between Junior ISAs?
The time it takes to transfer between accounts depends on the provider it’s being transferred from, however it should typically take 30 working days for a Stocks and Shares Junior ISA.
Please note, you can’t transfer money between a Junior ISA and an ‘adult’ ISA.
Who can open a Junior ISA?
• You’re the child’s parent or legal guardian
• You’re aged 18 or over
• The child is under 18
• The child doesn’t have a CTF. If they do have a CTF and want to open a Junior ISA, you must transfer the entire CTF into the Junior ISA
• Your child is a UK resident
A child can only have one Junior ISA. However, a child aged 16 or 17 can open their own adult Cash ISA while holding on to their Junior ISA. Currently, this gives them a combined ISA allowance of £24,368. They can also manage their own cash ISA from the age of 16.
Please note, to open a VitalityInvest Junior ISA, you and your child must be UK residents. Or, if you don’t live in the UK, you must be a Crown Servant (for example diplomatic or overseas civil service) or their spouse or civil partner.
What's the difference between an ISA and a Junior ISA?
Is there a minimum amount I need to open a Junior ISA with?
Can I take money out of my child's Junior ISA?
How many Junior ISAs can my child have?
For example, if you pay £1,000 into a Cash Junior ISA between 6 April 2019 and 5 April 2020, only £3,368 can be paid into their Stocks and Shares Junior ISA in the same tax year.
Can you close a Junior ISA?
Can a grandparent open a Junior ISA?
Can anyone else pay into a Junior ISA?
Are there any charges on a Junior ISA?
My child has a CTF. Can I move the money into a Junior ISA?
What if I accidentally pay too much into a Junior ISA?
Will I need to declare a Junior ISA in my tax return?
What happens when my child turns 18?
What if I don't use this year's allowance?
What if I want to invest for more than one child?
1 Investec assets under management at 30 June 2019: £118.9 billion
Vanguard assets under management at 30 June 2019: £4.2 trillion
2 Source: VitalityInvest Retirement Plan VitalityInvest ISA and Junior ISA Fund List April 2019
3 Report: Children's savings accounts and products (2014) YouGov.co.uk
4 HM Revenue and Customs Individual Savings Account (ISA) Statistics, August 2018