A new tax-free savings account for children is expected to be available by Autumn 2011.
It is clear that there is an appetite for families to have a simple and tax-free savings option for children, following the end of eligibility for the Child Trust Fund from January 2011, the Treasury said.
There will be no Government contributions, and funds placed in the ISA account will be owned by the child and ‘locked in’ until age 18.
A new tax-free savings account for children is expected to be available by Autumn 2011.
It is clear that there is an appetite for families to have a simple and tax-free savings option for children, following the end of eligibility for the Child Trust Fund from January 2011, the Treasury said.
There will be no Government contributions, and funds placed in the ISA account will be owned by the child and ‘locked in’ until age 18.
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