Government launches junior ISA for children

first_img KCS-content Show Comments ▼ More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi whatsapp Government launches junior ISA for children Share THE government yesterday said it would introduce a new tax free savings account for children, to replace the child trust fund it scrapped when it came into office. Funds in the so-called “Junior ISA” will be deposited by parents, but the account will be owned by the child and will be locked until they reach adulthood. The accounts are expected to be available from autumn 2011. Investments can be made in both cash and stocks and all returns will be tax free, but annual contributions will be capped. The government has not yet decided the annual contribution cap, although Treasury sources indicated it would likely be the same as that for an adult individual savings account (ISA).In 2011-12, adult investors will be able to put £10,680 in an ISA, after the limit rose by £480 in line with inflation. Unlike the child trust fund, which will be scrapped in January 2011, the government will not make any contributions to the account. Mark Hoban, financial secretary to the Treasury, said: “The introduction of this new account means that we can still offer people a clear way of saving for their children, while saving the half a billion pounds a year that we currently spend on Child Trust Funds.” center_img Tuesday 26 October 2010 8:32 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp Tags: NULLlast_img

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