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Junior ISA launched

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Around 6m children are eligible for a Junior ISA, available from 1 November at a range of high street institutions, HM Treasury said.

All children under 18 who are UK residents and do not have a Child Trust Fund will be eligible. Funds will be locked-in until age 18 and roll over into an adult ISA on maturity.

HMRC’s latest ISA Bulletin sets out the ISA subscription limits for 2012/13.