Many parents in the dark on tax on children's savings interest

'There will be lots of people unnecessarily paying tax this year'

clock • 3 min read

Laura Suter issues some wake-up to diligent parents squirrelling away money for their children...

Anyone in this industry, no matter how hard they try, will at times find themselves in the finance bubble and forget how the average person views financial services. I'm guilty of it too - but I saw a figure last week that served as a healthy wake-up call as to the knowledge level of many people out there. Almost half of people said they don't know how tax works on Junior ISA accounts - meaning they didn't know whether they were tax-free or taxable. Based on the research carried out by Opinium for AJ Bell of 2,000 UK adults, 37% could correctly identify that Junior ISAs were tax-fr...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Clients moving overseas? Everything advisers need to consider

Clients moving overseas? Everything advisers need to consider

Robust cross-border planning essential

Daivd Morley
clock 30 January 2026 • 4 min read
The UK's immigration/tax disconnect on global wealth

The UK's immigration/tax disconnect on global wealth

The UK has no dedicated immigration route for internationally mobile private wealth

John Kiely and Simon Malkiel
clock 29 January 2026 • 6 min read
IHT receipts continue to climb ahead of 2027 pension changes

IHT receipts continue to climb ahead of 2027 pension changes

April – December 2025 saw Treasury net £6.6bn from estates

Jenna Brown
clock 22 January 2026 • 3 min read