"Acting as a tax-free wrapper, it's possible to put aside up to £9,000 with an annual allowance in a JISA. Because of its tax efficiency, your child isn't liable to pay any tax on their earnings or profits made. Junior ISAs also come with plenty of flexibility, and you can either save using a Cash JISA or invest with a Stocks and Shares JISA."
"With Wealthify's Junior ISA being recognised as the 'best Junior ISA' at the Personal Finance Awards for seven years running, it's certainly worth checking the provider out when setting up an ISA for your children , but is it right for your investing needs? Wealthify is a popular platform for savers and investors alike and is backed by Aviva for added security, but what advantages and disadvantages should parents keep in mind when it comes to Junior ISAs? Competitive fees: With an annual management fee of 0.6% of your child's investments, it's easy to build your nest egg without losing out on higher profits. There's also no charge for changing your portfolio or transferring in or out of your JISA."
Junior ISAs allow parents to save or invest tax-free for children with an annual allowance of £9,000, and earnings and profits are tax-exempt for the child. Accounts can be Cash JISAs or Stocks and Shares JISAs and funds become available when the child turns 18. Wealthify offers a Junior ISA with Aviva backing and several years of award recognition. Wealthify charges a 0.6% annual management fee, imposes no transfer or portfolio-change fees, and provides ethical investment options. Parents should weigh platform security, fees, and investment approach when choosing a JISA provider.
Read at London Business News | Londonlovesbusiness.com
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