Saving for children
Parents have an ever-growing choice of ways to save for their offspring. Rhian Morgan highlights the pros and cons of each
The introduction of the junior individual savings account (ISA) on 1 November 2011 gave parents another way in which to save for their child’s future.
Although the junior ISA has many tax advantages, some parents are – quite rightly – concerned about their lack of control: children gain control of the fund from age 16 and access at age 18.
So what are the alternatives? There are a number of ways to save that give greater control and flexibility, while still offering attractive incentives and tax reliefs.
To view our comparison table, download the guide as a PDF using the link below.
By Rhian Morgan