Following recent press speculation the government has confirmed that the new Junior ISA, will have an annual contribution limit of £3,600, not £3,000 as was previously announced.
The new Junior ISA is due to be launched later this year.
The government has also confirmed that in line with the ‘adult’ version, both cash and stocks and shares Junior ISAs will be available, both types will be able to be held at the same time.
The new Junior ISA has been introduced following the abolition of the Child Trust Fund (CTF) introduced by the last government. Existing CTFs will be able to continue but ...