Examples of Junior ISA in a sentence
This is a summary of the buying and selling process of The M&G Savings Plan, The M&G ISA and The M&G Junior ISA.
The ACD offers The M&G Savings Plan, designed primarily to facilitate making regular savings by Direct Debit to a range of M&G Funds, and The M&G ISA and The M&G Junior ISA, designed to allow UK individuals to save tax efficiently in a range of M&G Funds.
Please note that Shares held in The M&G Junior ISA may not be sold without the permission of HMRC.
Also, 16 and 17-year-olds actually have two ISA allowances, as they’re able to open a Junior ISA (once they have transferred their Child Trust Fund [CTF] to their Junior ISA and closed the CTF), which for 2019/20 has a limit of £4,368, as well as an adult Cash ISA.
A Junior ISA cannot be closed until the child for whom it has been opened has reached the age of 18.