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A guide to the junior ISA annual allowance

September 2022

Like other ISA products, there is a limit to how much money you can put into a junior ISA each tax year. Find out what the current junior ISA allowance is, how it works and how it interacts with other savings products.

What is the junior ISA allowance?

JISAs have a limit on how much money you can put in each tax year. This is called your JISA allowance and it’s a fixed amount set by the government that doesn’t vary between providers. JISA allowances reset every tax year end, just like for other ISAs.

How much is the current junior ISA annual allowance?

The current maximum amount you can put into a JISA each tax year is £9,000.  It has stayed the same since the 2020-2021 tax year.

The tax year is the twelve month period that the government uses to calculate taxes and organise finances and accounts. In the UK, the tax year ends on 5 April, with the new tax year starting the day after.

How much were previous junior ISA annual allowances?

The last time the JISA annual allowance changed was in April 2020, when it went from £4,368 in the 2019-2020 tax year to the £9,000 that’s still active today.

Previously, the allowance had been increasing steadily each year from £3,600 in 2011, when JISAs were introduced.

Managing the junior ISA allowance

There a couple of things to keep in mind when it comes to managing your JISA annual allowance.

First of all, even though only a parent or guardian can open a JISA for a child, anyone can pay into it. This means that you should keep an eye on the annual allowance for your child’s JISA when it comes to friends and family wanting to pay in money to help save for your child’s future.

This could be especially important around birthdays, Christmas and graduations. If you’re wanting to pay into a JISA for someone else’s child, make sure you check with their parent or guardian first so you don’t accidentally max-out their allowance.

You can pay into a JISA as often and as much as you want, as long as you stay within the yearly £9,000 allowance. Regular payments, like a monthly direct debit, can be useful to help you build your child’s savings through consistency, though one-off payments can be just as effective and a great gift idea. The minimum amount you can pay into a JISA at a time is £10.

Is the junior ISA allowance per child?

Yes. JISA allowances don’t interfere with each other. If you have more than one child, each with their own JISA, each will have its own allowance of £9,000.

The total amount paid into a JISA in a tax year can’t be more than £9,000, regardless of how many people make payments.

What happens if I go over the annual allowance on my child’s junior ISA?

Most providers, like us, won’t let you go over your annual allowance – if you try to make a payment into a JISA that will take it over the limit, we’ll reject the part of the payment that would have been in excess. However, if you do this within 14 days of the end of the tax year, we’ll hold that excess amount and invest it into the JISA on the first day of the new tax year.

If you have JISAs with more than one provider though then this mistake can happen.

Just like with all ISAs, if you do go over the annual allowance on your child’s JISA you won’t get any tax relief on that extra money you put in. The best thing to do is contact HMRC by calling their helpline on 0300 200 3312.

If you don’t let them know, when the end of the tax year rolls around in April, HMRC will get in touch to let you know how to correct your mistake. You could be fined for going over the limit.

Does a junior ISA allowance count towards my other ISA allowances?

No. Each person has their own ISA annual allowance, so any money you put in a child’s JISA won’t affect your own ISA allowance, which is currently £20,000 each tax year.

Can I carry into the next tax year any unused junior ISA allowance?

No. Your JISA allowance, like your other ISA allowances, fully resets at the start of the new tax year even if you didn’t use the full amount.

Junior ISA

Our OneFamily Junior ISA

With our stocks and shares Junior ISA you can start investing from just £10 per month up to a maximum of £9,000 each year on behalf of a child. Anyone can pay in, and the child will gain access to the account once they are 18 years old.

Explore Junior ISA

Stocks and shares JISAs have good long-term growth potential, but the value of your investments can go up or down and you child could get back less money than you’ve put in.

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