Tax-free saving for your children

Interest rates may be low on traditional savings accounts, but banks are still keen to attract young customers. The best-buy junior individual savings accounts (Jisas) are offering almost the same rates as they were a year ago, whereas adult Isa rates have plummeted. So this could be a good time to set aside some cash for your kids.

Jisas work much like adult ones. Money deposited into a Jisa can grow free from income tax, capital gains tax (CGT) and dividend tax. You can choose