A tax-efficient savings vehicle which allows you to save up to £4,260 for the 2018/19 tax year. The account is for the benefit of the child and therefore held in the name of the child, and all cash and investments belong to them. Normally you cannot access the funds until the child is 18 except in the case of death or terminal illness.
There are no investment limits on a First Steps IDA, but no tax advantages either. You control when the Child gets access to the investments.
This is a tax-advantaged way to save for your child's later life. You can invest up to £3,600 this tax year (you pay £2,880 and we claim £720 tax relief for you). Your child has control over the account from the age of 18 but can't access their savings until later in life. There is also no Capital Gains tax or Income tax.
IMPORTANT! Read the Investment Dealing Account Product Guide and our Charges Guide for all the details and before you make up your mind if our Investment Dealing Account is right for you.
Please remember the value of your investments and any income from them can go down as well as up and you may get back less than the amount you originally invested.
All investments carry an element of risk which may differ significantly. If you are unsure as to the suitability of any particular investment or product, you should seek professional financial advice. We can't give you financial advice.
Laws and tax rules may change in the future without notice. The information here is our understanding as of April 2018. This information takes no account of your personal circumstances which may have an impact on tax treatment.
Yes? You might want to look at our Junior ISA. Tax advantaged savings up to £4,260 for the 2018/2019 tax year.
Yes? Then a Child SIPP might work for you. Tax advantaged savings up to £3,600 each tax year.
This is where our First Steps IDA can come in. No tax advantages, but no savings limits either..
We charge you flat Account fees rather than fees based on a percentage of the value of your investment. So, as your investments grow, your Account fees won't.
We've been in business since 1986, have £15.6 billion of assets under administration (at December 2017) and look after the investments of more than 100,000 customers.
We take pride in providing our customers with outstanding products and services. Over the years we've won a number of prestigious awards.
You can access more than 4,000 different investments.
You can manage everything together in one place, with 24/7 access to your Account online.
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