An ISA is a flexible and tax-efficient way of saving or investing your money. Every tax year, which starts on 6th April, you get a new ISA allowance and for 2017/2018 you can choose to invest up to £20,000 within a Fidelity Stocks & Shares ISA or cash ISA - or a combination of the two.
An ISA is tax-efficient because you’re not charged income or capital gains tax on any interest or investment returns.
The Junior ISA has been designed for parents looking to save for their child’s future. For the 2017/2018 tax year the allowance is £4,128. Family and friends can easily contribute to the child’s Junior ISA too, though you will manage these savings until your child is 18 - ready to give them a helping hand with things such as a house deposit, first car or university fees.
Please note, if you have paid into a Cash or Stocks & Shares ISA since 6 April 2017, you will not be able to open a further ISA of the same type before 6 April 2018. You may however make additional payments – up to the £20,000 ISA subscription limit - into your existing account(s).
Fidelity Personal Investing only gives information about products and services and does not provide investment advice based on individual circumstances. If you are unsure of the suitability of an investment you should speak to an authorised financial adviser, although different terms will apply.
The value of investments can go down as well as up and you may not get back the amount you invest. The value of tax savings and eligibility to invest in an ISA depend on personal circumstances. All tax rules may change in future.
Junior ISAs are only available to UK resident children under 18 who do not have a Child Trust Fund (CTF). Please note that if your child was born between 1 September 2002 and 2 January 2011 the Government would have automatically opened a CTF on your behalf so your child will not be eligible for a Junior ISA. The investment is locked away until the child reaches 18 years old.
A small change to your daily routine could add up significantly over the years, for example saving the money you would have spent on a shop-bought coffee into an ISA.
One low cost service fee - our typical service fee is just 0.35% with no additional charges.
If you have any questions, please call our UK-based team.
Monday to Friday, 8am to 6pm
Saturday 9am to 6pm.
Our UK-based Fidelity Personal Investing team may call you to help you with any queries you may have concerning the process.