Parents shun their own 貯金 to open Junior Isas for their children
- Number of Junior Isas opened by parents since 2019 殺到するs by 101%
- Parents have been shunning their own Isas to open a Jisa for their children
Parents and 後見人s have been casting aside 開始 Isas for themselves to priotitise 開始?Junior Isas?for their children, new data 示唆するs.
Between October and December 2023, the number of Jisas opened by parents and 後見人s 急に上がるd 101 per cent since 2019, 排除的 data for This is Money from Scottish Friendly 明らかにする／漏らすs.
It 示すs that planning for 未来 世代s has assumed a greater 優先 for parents and 後見人s.
The 転換 of parents and 後見人s prioritising saving for their children over themselves has resulted in a 減少（する） in Isa 投資s over the same period, the 人物／姿／数字s show.
A 現在の for the 未来: The number of Junior Isas opened by parents for their children 殺到するd 101% since 2019
Mothers lead the way when it comes to 開始 up new Junior Isas for children. Since the start of 2019, the number of new Jisas opened by mothers was up 115 per cent.
The number of fathers who opened a new Jisa for their children was up 87 per cent by comparison.
The 上げる in Jisa 投資s was most 流布している amongst younger parents, 老年の 18-34. The number of Jisas 存在 opened by parents in this age group has 増加するd 35 times compared to 2019.
- See our （米）棚上げする／（英）提議する of the best Junior Isa 率s here
The 量 of money parents and 後見人s put into Jisas after the summer of 2023 was also up by 107 per cent にもかかわらず 現在進行中の living cost 圧力s and the 差し迫った Christmas period.
At this time, the best Jisa paid a 率 of 4.7 per cent and was 申し込む／申し出d by Coventry Building Society, によれば 率 scrutineers Moneyfacts Compare.
The best Jisa 率 is now 5.49 per cent and is 申し込む／申し出d by Bath Building Society.?
Every 地域 across the UK saw an 増加する in new Jisas 存在 opened by parents and 後見人s since the start of 2019.
But Scotland topped this with an 増加する of 191 per cent, closely followed by East Midlands, which saw a 147 per cent 殺到する in the number of Jisas 存在 opened.
Kevin Brown, 貯金 specialist at Scottish Friendly, says: '明確に saving and 投資するing for kids remains a 最高の，を越す 優先 for families up and 負かす／撃墜する the UK and more should be done to support and encourage this where appropriate.
'Recently the 政府 has hinted Isa 改革（する）s may be coming and we believe that changing 支配するs to 許す other family members, such as grandparents to open Jisas too would 供給する a much needed 上げる to children's 貯金.
'除去するing those 制限s can only help to put children on a stronger 財政上の 地盤 as they 長，率いる into adulthood and so should be 堅固に considered in any planned 改革（する）s.'
New Isa age changes kick in April 2024?
As part of the 政府's 一括 of Isa 改革（する）s, 始める，決める to kick in from April 6 2024, there will be a change to the age you can open a cash Isa.
At the moment you could open a normal adult cash Isa at age 16, 反して you need to be 18 to open an adult 在庫／株s and 株 Isa.
From the new 税金 year, you'll need to be 18 to open either a cash Isa or a 在庫／株s and 株 Isa.
The 政府 says this will bring cash Isas in line with the age 必要物／必要条件 already in place for 開始 在庫／株s and 株, Innovative 財政／金融 and Lifetime Isas.
Anna 屈服するs, co-創立者 of website 貯金 支持する／優勝者, says: 'This change means youngsters will 行方不明になる out on putting up to £20,000 into a cash Isa at age 16 and age 17 ? so 効果的に £40,000.
'They would be ありそうもない to have that 肉親，親類d to money themselves ? so a parent may have gifted it to them.?
'But of course if that were the 事例／患者, although any 利益／興味 earned in the Isa would be 税金 解放する／自由な to the child, as it was gifted, the parent might need to 支払う／賃金 税金 at their own ごくわずかの 率.'
There's usually no 税金 to 支払う／賃金 on children's 貯金 accounts, 含むing Jisas.?
If in the 税金 year, a child gets more than £100 in 利益／興味 from money given by a parent in a 貯金 account or Jisa, the parent will have to 支払う／賃金 税金 at their own ごくわずかの 率 on all the 利益／興味 if it is above their own Personal 貯金 Allowance.?
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