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A tax free junior isa is exactly that.
It is a childrens individual savings account just like a regular ISA but the funds cannot be accessed by the child until they reach adulthood and are also known as ‘Tax Free Savings Account For Children’.
Any income generated from interest on the savings is completely tax free and it is a great way to save up for your childs future and help to contribute towards university fees, their first car, their first home, gap year etc.
To open a Tax Free Junior ISA Savings Plan you need to be a UK resident who pay’s UK taxes.
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