The Select Junior ISA is a long-term and a tax efficient way to invest for a child.
You can invest up to £9,000 per child each tax year, with no UK Income Tax or Capital Gains Tax on any growth and the money is not accessible by the child until age 18.
At 18 they can choose to continue with the investment, by converting their Select Junior ISA to a Select ISA, or take out some, or all, of the money.
Through the Select Junior ISA contributions can be invested in to a choice of funds and you can change the amount you invest and the funds invested in to at any time.
You can make single contributions into a Select Junior ISA or make regular payments via direct debit. You can start, stop and restart regular payments, or change the amount, at any time - subject to the current minimum of £50 a month.
Contributions into a Select Junior ISA can be made by anyone, as long as the registered contact for the account is made aware. Any payment in to the account is a gift to the child and, once made, cannot be returned to the payee.
Full details of this product can be found in Key Features of the Key Features of the My Investments Select Junior ISA [PDF: 170KB]. Please make sure you read and understand it before you decide to proceed with any purchase.
There are two ways you can put your financial plan in place, by making decisions about what is best for your circumstances with the support of an NFU Mutual Financial Adviser, with our advised service, or by making those decisions yourself, through our non-advised service.
Our advised service provides the help of NFU Mutual Financial Advisers who will create a plan for how to invest your money based on your personal cricumstances. Our non-advised service is designed for people who have carried out an assessment of their own personal circumstances and know the amount they would like to invest, their risk appetite and financial goals.