Junior ISA

Learn more about Junior ISAs

• What are the different types of Junior ISA?

  A Junior ISA is an Individual Savings Account (ISA) for a child under 18. There are two types of Junior ISA. With a Junior Cash ISA you can save cash for your child. With a Junior Stocks and Shares ISA you can invest for your child. Like all ISAs, money in a Junior ISA is free from UK Income and Capital Gains Tax. Tax rules can change and benefits depend on personal circumstances.

  Your child can have one or both types of Junior ISA, but not more than one of each type. Only your child can take money from their Junior ISA, and only after they turn 18.

  We offer a Junior Stocks and Shares ISA, which we’ll convert into a regular Stocks and Shares ISA for your child when they turn 18.

• Who can open an HL Junior ISA?

  A parent or legal guardian can open an HL Junior ISA.

  You can open an HL Junior Stocks and Shares ISA for your child if they:

  • Are UK resident
  • Under 18 years old and
  • Don’t already have a Child Trust Fund or Junior Stocks and Shares ISA elsewhere

  If your child has a Child Trust Fund or Junior Stocks and Shares ISA elsewhere, you'll need to transfer it to HL rather than starting a new one.

  Unless they’re the legal guardian of the child, grandparents and other family members can’t open a Junior ISA for a child. But they can add money to one once it's open.

• What is the Junior ISA allowance?

  In the 2023/2024 tax year, the Junior ISA allowance is £9,000. The deadline to add money each tax year is midnight 5 April.

• Who can pay into a Junior ISA?

  Although the Junior ISA has to be opened by a parent or legal guardian, anyone can make a subscription up to the annual limit e.g. parents, grandparents, friends and relatives.

  Hargreaves Lansdown will not obtain consent from the registered contact before accepting subscriptions to a Junior ISA. Payments will remain as cash in the account pending an investment instruction from the registered contact.

• Who is eligible for a Junior ISA?

  You can start a new HL Junior Stocks and Shares ISA for your child if they are a UK resident, under 18 years old, and don’t already have a Child Trust Fund or Junior Stocks and Shares ISA elsewhere.

  If your child has a Child Trust Fund or Junior Stocks and Shares ISA elsewhere, you'll need to transfer their ISA rather than starting a new one.

• What happens when the child turns 18?

  When the child reaches age 18 their Junior ISA will be converted into a Stocks and Shares ISA.

  At age 18 the child will receive full access to their investments and savings and can withdraw their money if they wish to.

• What’s the minimum I need to start an HL Junior Stocks and Shares ISA?

  You can open an HL Junior Stocks and Shares ISA from £100, or with a monthly Direct Debit from £25 a month.

• Should you save or invest your child's Junior ISA?

  Cash is usually used for short-term savings, where you need the money in less than 5 years. But if you’re saving for your child your outlook might be longer than this. Investing in the stock market using a Junior Stocks and Shares ISA could help your child’s money beat inflation. It also offers the potential for greater rewards in return for accepting a higher level of risk. Still not sure whether to save or invest? Find out more here.

More Junior ISA FAQs