Limit for new junior Isas up to £3,600

THE UK government has raised the annual investment limit for junior individual savings accounts (Jisas) from £3,000 to £3,600.

The tax-free accounts will be available from 1 November, replacing child trust funds (CTFs), which are now closed to new money. However, Jisas will not be available to those with CTFs, although the investment limit on the latter will rise from 1,200 to 3,600 in November.