Much the same as a regular ISA, but with a £9,000 annual contribution limit. The other restriction is that you can’t withdraw from it until you’re 18. At that point it turns into a regular ISA, and you have control of it.
Many parents think about using Junior ISAs, especially if they have used up all of their own tax-free account allowances, but the downside that gives a lot of them pause is the fact that their 18-year-old gets full control and can cash everything in to spend on booze and fast cars, if they want to.
What would you recommend to invest in? I am wirh Hargreaves landsdown
Hey Holly, we can’t give recommendations as we aren’t IFAs. All of our investments are in Global index funds. Have you done the investing part of Rebel Finance School? That would help massively with the choice.. Alan