So that this is less of a pure reminder and somewhat informative, I will let you in on a lesser-known fact about ISAs and JISAs … 16 and 17-year-olds are able to hold both a JISA and an ISA simultaneously.
Not only are they entitled to hold both a JISA and an ISA, they are also entitled to BOTH of the annual allowances that come with them. This means that the amount that can be saved into ISAs on behalf of these teenagers increases from £9,000 per year to £29,000 per year (all tax-free of course).
If you are looking for ways to set more funds aside for your children (or grandchildren), this might be one of the best ways to do it. I know that some of you have utilised this benefit already.
So, whilst we have a little time before April hits us, please make sure that any intended ISA top-ups are made in good time to use up those allowances for the current tax year. We would ask that all tax-year-end-sensitive investments are made by 25th March 2022.
We are only an email or phone call away if you need any help.
And remember that the kids are alright!
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