Junior ISA annual limit to rise by £600

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The Junior individual savings account (JISA) yearly limit will be raised from £3,000 to £3,600, the Treasury is expected to announce this next week.

Treasury sources also said financial secretary to the Treasury Mark Hoban will align the structures of child trust funds (CTFs) and JISAs, the Telegraph reports. In March, the government said it would set the JISA limit at £3,000, but it is now likely this will be increased by £600, according to sources. In October, the Tax Incentivised Savings Association (TISA) recommended the limit on JISAs should be £3,600, which is the same as that on ordinary ISAs. When CTFs were closed to new savers in January, there were accusations the introduction of JISAs would be unfair on children with...

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