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Written by Ryan
Updated over a week ago

What products does Nosso offer?

You can currently open or transfer a Junior Stocks & Shares ISA in your child's name or a General Investment Account in your own name.

We plan to add more products like Bare Trusts and stocks & shares ISAs by the end of the year.

What is a Junior ISA?

A Junior ISA "JISA" is a tax-free way to save or invest for children.

Money invested in a Junior ISA is locked up and can only be accessed once the child turns 18. At this point, they get full access to it.

The tax-free nature means that you don’t need to pay any income tax (on interest you earn from savings), dividends tax (on any dividends you receive from stocks & shares) and capital gains tax (on any profit you make) on your savings or investments. For more information check out this post in our guide.

Note: Nosso only offers Junior stocks & shares ISAs and not Junior cash ISAs. Exact tax treatment depends on your individual circumstances and may be subject to changes in the future.

Who is a Junior ISA for?

A Junior ISA is for parents or legal guardians looking to invest tax-free in their child’s name and comfortable locking the money till they turn 18. Because of these features, it could be used for;

  • University fees

  • First home deposits

  • Gap year funds

  • General pot of money to hand over to your child when they turn 18

Junior ISAs are available to children who:

  • Are under the age of 18

  • Are residents of the UK, or are dependants of a crown employee (e.g. army employee based overseas)

Is your Junior ISA a Stocks & Shares JISA or a Cash JISA?

Our Junior ISA is a Stocks & Shares Junior ISA. That means your money is invested into the stock market. This means that it doesn’t pay a fixed rate of interest and the value of the investments can go up or down.

Who can contribute to my kid’s Junior ISA?

With Nosso, anyone can contribute to this allowance. Each Junior ISA comes with its own unique link that Grandparents, Godparents, Aunts, Uncles or anyone else can you use to add money directly to your kid’s investment account.

Can my child have more than one Junior ISA?

Each child can have one Junior ISA of each type at any point in time. That’s one Junior Stocks & Shares ISA and one Cash ISA. It’s worth noting that this rule is a little bit different to adult ISA which says you can have multiple Adult Stocks & Shares ISAs providing you only contribute to one each tax year.

How much can I invest in a Junior ISA?

This tax year, the limit’s £9,000. This can be split across a cash ISA or a stocks and shares ISA, so you might have £3k in one, and £6k in the other. If you don’t hit it, you can’t carry any of it over to the next tax year. Use it or lose it.

Can I transfer a Junior ISA or Child trust fund?

Yes, you can transfer any existing Junior ISA or Child Trust Fund to Nosso. Just download the app and select a Junior ISA. When we ask you if you already have one elsewhere just tap yes and we’ll send you a transfer form to complete at the end of the process.

Because you can only have one Junior Stocks & Shares ISA at any one time, we only support full balance transfers.

What is a GIA?

A general investment account "GIA" is an investment account in your own name and can be useful when looking to retain full control and flexibility of investments without using up your own stocks & shares ISA.

It does not have any special tax treatment and so capital gains and dividends are taxed once they reach a certain amount (exact tax treatment depends on your specific circumstances).

What is a Bare Trust?

A Bare Trust (or Junior Investment Account) is an investment account in the child’s name which they get full access to when they turn 18.

However, unlike a JISA, money can be used before the child turns 18 provided it’s used for the child’s benefit.

For more information check out this post in our guide.

Don't forget, when you invest your money is at risk. You might end up with more than you put in - or you might end up with less. Remember, past performance doesn’t guarantee how well an investment will do in the future. The performance is not subject to Nosso’s fees which once charged would reduce the return you received.

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