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Which account is right for you
Find an account that meets your needs by answering a few simple questions
Important information - please keep in mind that the value of investments can go down as well as up so you may get back less than you invest. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser.
1
What are you trying to do?
1
What are you trying to do?
YesPlease select an answer and click Next to continue.
2
Will you need the money before you turn 55?
2
Will you need the money before you turn 55?
YesPlease select an answer and click Next to continue.
3
How much do you want to invest initially?
3
How much do you want to invest initially?
YesPlease select an answer and click Next to continue.
4
Have you already opened an ISA for this tax year?
4
Have you already opened an ISA for this tax year?
YesPlease select an answer and click Next to continue.
2
Does your child already have any of these accounts?
2
Does your child already have any of these accounts?
YesPlease select an answer and click Next to continue.
3
How much do you want to invest initially?
3
How much do you want to invest initially?
YesPlease select an answer and click Next to continue.
4
When do you want your child to be able to access their money?
4
When do you want your child to be able to access their money?
YesPlease select an answer and click Next to continue.
Thank you for answering the questions
Below are the accounts you are most eligible to open:
Investment ISA
Not available
- Is it tax efficient?
- No income or capital gains tax to pay on your earnings
- Is the money easy to access?
- You can access this account at any time
- How much can I invest?
- £20,000 this tax year, as any combination of cash and stocks and shares. Start from £25 monthly or a £1,000 lump sum.
- Who is eligible?
- UK residents 18 years+
- Good to know
- Can hold both cash and stocks and shares. Transfer your existing ISAs.
SIPP
Not available
- Is it tax efficient?
- Receive tax relief based on how much you pay, 20% basic, 40%+ higher
- Is the money easy to access?
- You cannot access a pension until you reach 55
- How much can I invest?
- £40,000 each tax year, with a maximum lifetime value of £1,055,000. Start from £25 monthly or a £1,000 lump sum.
- Who is eligible?
- UK residents 18 years+
- Good to know
- 25% tax free lump sum at age 55. No inheritance tax if you die before taking your pension.
Investment account
Not available
- Is it tax efficient?
- Annual earnings up to £12,000 are exempt from capital gains tax
- Is the money easy to access?
- You can access this account at any time
- How much can I invest?
- Unlimited. Start from £25 monthly or a £1,000 lump sum.
- Who is eligible?
- UK residents 18 years+
- Good to know
- Can invest in a wider choice of funds such as offshore funds. Can designate accounts.
Junior ISA
Not available
- Is it tax efficient?
- No income or capital gains tax to pay on your earnings
- Is the money easy to access?
- Not until the child turns 18 years old and the money becomes the child's
- How much can I invest?
- £4,368 this tax year. Start from £25 monthly or a £1,000 lump sum.
- Who is eligible?
- UK residents, under 18 who were born after 2 Jan 2011, or before Sept 2002.
- Good to know
- Can hold both cash and stocks and shares.
Junior SIPP
Not available
- Is it tax efficient?
- Receive a 20% tax relief bonus
- Is the money easy to access?
- At age 18 the money passes to the child, but they cannot access the pension until they reach 55
- How much can I invest?
- £3,600 this tax year. Start from £25 monthly or a £1,000 lump sum.
- Who is eligible?
- UK residents, under 18 years of age.
- Good to know
- Friends and family can contribute too.
