Junior ISA
A tax-free ISA for under-18s with a £9,000 annual allowance, locked until age 18.
A Junior ISA (JISA) can be opened by a parent or guardian for any UK-resident child under 18, with a £9,000 annual allowance for the 2024/25 tax year. Each child can hold one cash JISA and one stocks and shares JISA at any time, and contributions can come from anyone (parents, grandparents, friends). The money is legally the child’s and cannot be withdrawn until they turn 18, at which point it rolls into an adult ISA. Returns are free of UK income tax and capital gains tax. Providers include Vanguard UK, Fidelity, and Hargreaves Lansdown.
Inside Finlo
A 60-second lesson that puts this term in context, alongside the others, lives inside the Finlo app.