Budget 2020: JISA savings limit to hit £9,000 by 2020/21

Up fom £4,368

Sophie King
clock • 1 min read

Chancellor Rishi Sunak has pledged to double Junior ISA and Child Trust Funds (CTFs) saving limits to £9,000 a year from 2020/21.

 The accompanying Budget documents published today (11 March), following new Chancellor Rishi Sunak's inaugural Budget speech in Westminster, revealed the amount families will be able to save into a JISA or CTF will be more than doubled in 202/21. This will take the total amount families and children are able to save tax-free from £4,368 to £9,000. JISAs and CTFs are tax-advantaged accounts for children, designed to encourage a long-term savings habit. Personal Finance Society chief executive Keith Richards said it "was great" to see the change, adding: "However, the government nee...

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