What is the 2020/21 Junior ISA allowance?
You can contribute up to £9,000 per child this tax year and the allowance will increase with inflation each year. A tax year runs from 6 April one year to 5 April the next.
There are two types of Junior ISA:
- Cash Junior ISAs
- Stocks & Shares Junior ISAs
You can open a Cash Junior ISA and a Stocks & Shares Junior ISA for a child provided you do not subscribe more than the annual contribution limit.
Children will only be able to hold one Cash Junior ISA and one Stocks & Shares Junior ISA at any time.
Hargreaves Lansdown offers the Vantage Stocks & Shares Junior ISA, we do not offer a Cash Junior ISA.
Please note that investments in a Stocks & Shares Junior ISA can fall in value as well as rise, and you could get back less than you invest.