The savings limit on the new tax free Junior ISAs is to be set higher than previously announced.
The introduction of the new Junior Individual Savings Account (JISA) was announced earlier this year. Originally the government had indicated that the maximum amount which could be saved into a JISA would be £3,000 per year, however indications are now that this is to be raised to £3,600.
The JISA is designed to replace the Child Trust Fund (CTF) but would not receive government contributions as the CTF did.
Like the adult ISA the new JISA will be able to invest in bank or building ...