How you can take advantage of the loophole around the Junior ISA!

This article is for information only and no recommendation is being made or should be construed from the contents of the article. Always seek independent financial advice prior to taking any action.

Under-18s born on or after 3 January 2011, or before September 2002, qualify for a Junior ISA (JISA), which means they can save or invest up to £4, 128 in the 2017/2018 tax year. The youngsters can put as little or as much of the £4,128 allowance as they wish into a JISA.

However, on top of this, an adult cash ISA can be opened from the age of 16 with an annual allowance of £20,000, and currently there are no rules against having taking up both – meaning that between the ages of 16 and 17 they get two ISA allowances totaling £24,128.

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