Junior ISA

Families with disabled children will be able to withdraw up to £2,500 from Child Trust Funds (CTFs) or junior ISAs (JISAs) without first needing court permission under new proposals to try to reduce the financial burden for parents and guardians with vulnerable kids.  

The amount you can save in a junior ISA or Child Trust Fund will rise from £4,368 a year to £9,000 a year from April, the Treasury announced today.

Savers hoping to be able to put more cash in an ISA from next April have had their hopes dashed as today's Autumn Statement reveals the annual threshold will remain the same.

From today a host of changes take force, which could see the tax you pay and the savings you make alter. Other changes will see new pension freedoms taking effect, as well as the ability to transfer Child Trust Fund savings into a Junior ISA.

Surviving spouses can inherit their deceased partner's ISA, and it will stay as an ISA, so they won't pay tax on any gains, Chancellor George Osborne has announced.

16 and 17-year-olds can save up to £19,000 tax-free this year under today's ISA revamp, meaning they could net £100s in interest if they put the maximum amount away.

ISAs transform into NISAs (New ISAs) today, meaning everyone can now put £15,000 into cash or shares savings without paying tax on it.

Savers can get up to 2.75% tax-free interest on cash put into an ISA. But with the deadline looming you need to use your ISA allowance now or you'll lose it.

Chancellor George Osborne announced big changes for the UK's savers in today's Budget, including a revamp of the Isa system and new bonds for over-65s.