Junior ISAs

The Government has now published the draft regulations for its Junior ISAs. A brief summary is:

• Junior ISAs will be available from 1 November 2011.
• Children may have one cash and one stocks and shares Junior ISA at any time, with an overall contribution limit of £3,000 per annum.
• Junior ISAs will be offered by high-street banks, building societies, etc.
• Funds will be ‘locked in’ until the child is 18.
   

Source: http://feeds.lexblog.com/~r/MercerHole/TaxPlusBlog/~3/ghMjknI7MKs/

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