Junior Stocks & Shares ISA FAQs

What is a Junior Stocks & Shares ISA?

This is a tax efficient medium to long term investment for children for their future. You can invest up to £3,600 in a Junior Stocks & Shares ISA during the 2012/13 tax year. Once the child reaches 16 years of age they can assume responsibility for managing their Junior Stocks & Shares ISA if they wish. At 18 years of age the Junior Stocks & Shares ISA matures into a full Adult Stocks & Shares ISA and the child can either continue with the ISA, make their own contributions or make a full or partial withdrawal.

Who's eligible for the product?

Eligibility is restricted to children between the ages of 0 and 18, who do not have or are not eligible for a Child Trust Fund.
They have to be resident in the UK at the time of opening or the child of a crown employee abroad
A child can only contribute to one Junior Cash ISA and one Junior Stocks and Shares ISA in each tax year.

Who owns the account?

The child owns the funds of the account, which cannot be accessed until they reach 18 years of age.

Can l open a Junior ISA if my child already has a Child Trust Fund?

Unfortunately the HMRC regulations mean that if the child either holds or was eligible for a Child Trust Fund they will not be able to open a Junior ISA. Typically children born between 1st September 2002 and 2nd January 2011 will be eligible for a CTF. This means you cannot open a Junior ISA for them. For further general information on the Child Trust Fund and Junior ISA, please see Money Advice Service website.

Where can I buy the Halifax Junior Stocks and Shares ISA?

You can only invest in the Halifax Junior Stocks & Shares ISA online. If you would like any help completing your application form, call Halifax Share Dealing on 08457 22 55 25 (Lines are open 8am to 9.15pm, Monday to Friday and 9am to 1pm on Saturdays) who will be able to answer any of your product or application form queries.

Your branch Financial Adviser can’t advise on, help set up or amend your Halifax Junior Stocks & Shares ISA as it’s only available online, but they can help you with your wider investment needs. To book an appointment with a Financial Adviser please call 0845 850 3701 or book an appointment online. If you need advice on the Halifax Junior Stocks & Shares ISA you’ll need to speak to an Independent Financial Adviser. You might have to pay for independent financial advice.

How much can l invest?

The maximum that can be invested in the Halifax Junior Stocks & Shares ISA for the 2012/13 tax year is £3,600. Combined payments into your child's Junior Cash ISA and Junior Stocks & Shares ISA must not exceed £3,600. This is the Junior ISA allowance for the 2012/13 tax year. For example, you can have £1,800 in the Junior Stocks & Shares ISA and £1,800 in a Junior Cash ISA.

The minimum investment in the Halifax Junior Stocks & Shares ISA is £20 – either as a lump sum or regular monthly payment.
You can also make a combination of regular payment and ad-hoc payments (for example on birthdays) as long as the total contributions do not exceed the statutory maximum.

Can I transfer an existing investment to the Halifax Junior Stocks & Shares ISA?

You cannot transfer an existing investment to the Junior Stocks & Shares ISA, however you can transfer Junior ISAs between providers and between a Junior Stocks & Shares ISA and a Junior Cash ISA. The Halifax Junior Stocks & Shares ISA will only accept transfers in cash. Please see the transfer form.

Who are Halifax Share Dealing Limited?

Halifax Share Dealing Limited is wholly owned by Lloyds Banking Group. Halifax Share Dealing is the ISA Plan Manager and Administrators of your Halifax Junior Stocks and Shares ISA.

Where is my child's money invested?

Your child's money is invested in the Scottish Widows UK Tracker Fund managed by Scottish Widows Unit Trust Managers Ltd.

If my child is 16 or 17 and has a Junior ISA, can they open an adult cash ISA as well?

Yes, during the ages of 16 and 17 a customer can have and contribute to both an adult cash ISA and a JISA using both allowances), however they will not be able to contribute to an adult Stocks & Shares ISA until they reach 18 years of age.

What charges will my child pay?

There are no initial or exit charges for the Halifax Junior Stocks & Shares ISA . There is a yearly management charge of 1% which is taken from the value of the fund. For further information, please read the Simplified Prospectus of the Scottish Widows fund in which your money will be invested and the separate Terms & Conditions of the Halifax Junior Stocks and Shares ISA. Both of these documents are available online

What tax will my child pay?

Any growth in the Halifax Junior Stocks and Shares ISA is free from personal income or capital gains tax, although Halifax Share Dealing is unable to reclaim the 10% tax credit on UK dividends. The tax advantages of ISAs depend on the child's personal circumstances, which, like tax rules, can change.

Is there a minimum investment term in the Halifax Junior Stocks & Shares ISA?

A Junior Stocks and Shares ISA is a medium to long-term investment, which we recommend is held for at least 5 years. It is important to remember that (except in very exceptional circumstances ie terminal illness or death of the child) the funds cannot be accessed until the child has reached 18 years of age.

Are there any risks associated with investing in the Halifax Junior Stocks & Shares ISA?

As with any investment product you need to remember that the value of your investment can go up or down and your child may get back less than invested. Please read the Simplified Prospectus for further information on the risks of investing in the Scottish Widows UK Tracker Fund. The tax advantages of ISAs depend on the child's personal circumstances and tax rules may change in the future.

Can I get advice from my Financial Adviser on the Halifax Junior Stocks & Shares ISA?

Our Financial Advisers in branch can’t advise on the Halifax Junior Stocks & Shares ISA , as it’s only available to buy online. If you need advice on the Halifax Junior Stocks & Shares ISA you’ll need to speak to an Independent Financial Adviser (IFA). You might have to pay for independent financial advice.

How do I access my account online?

To register for the online service simply go to the Halifax Share Dealing online service registration page and follow the instructions. You will need your Personal Reference Number (PRN) when registering. Your welcome letter will detail your PRN.

If you are an existing HSDL customer registered for the online share dealing service your Junior Stocks & Shares ISA will be automatically available once the application process has been completed.

How do I get a valuation or service my Halifax Junior Stocks & Shares ISA?

You can obtain a valuation of your Halifax Junior Stocks & Shares ISA via the Halifax Share Dealing online service. Here you can also organise to increase or reduce your direct debit, make a one-off payment, set up a regular investment plan and service your investment.

For any enquiries please call Halifax Share Dealing on 08457 22 55 25 (Monday - Friday 8am – 9.15pm, Saturfday 9am - 1pm) who will be able to provide you with help with any other servicing related queries.

What happens if l or my child holds a Junior ISA and moves abroad?

If you (the registered contact) or your child move abroad you can keep your Junior ISA ‘wrapper’ however you can’t make any further contributions. Halifax Share Dealing Limited can only deal with UK residents (or Crown employees working overseas) therefore we would ask you to transfer your Junior ISA to another provider.

I need some help completing the application form, who should I call?

Call Halifax Share Dealing on 08457 22 55 25 who will be able to answer any of your product or application form queries. Halifax Share Dealing cannot, however, provide advice. Lines are open 8am to 9.15pm, Monday to Friday and 9am to 1pm on Saturdays. Your branch Financial Adviser can’t provide advice on, help set up or amend your Halifax Junior Stocks & Shares ISA , but they can help you with your wider investment needs – for example if you want to invest more than the current Junior ISA limit. To book an appointment with a Financial Adviser please call 0845 850 3701 or book an appointment online.

What if I’ve made a mistake on my application form or want to change any details on my application?

If you need to change any of your personal details on your application form after you have submitted it, please write to  Halifax Share Dealing Limited, Lovell Park Road, Leeds, LS1 1NS who will make the changes for you or call HSDL on 08457 22 55 25 (8am to 9.15pm, Monday to Friday and 9am to 1pm on Saturdays).

I have submitted the wrong bank account details on the Direct Debit Instruction, how do I change this?

If you are paying by Direct Debit you need to complete a new mandate form. Please call Halifax Share Dealing on 08457 22 55 25 (8am to 9.15pm, Monday to Friday and 9am to 1pm on Saturdays) to request a form, or download one from the Junior Stocks & Shares ISA page.

How do l make my subscription to the Halifax Junior Stocks & Shares ISA?

You can make an initial subscription by cheque and enclose this with your application form. All further subscriptions must be made by direct debit, and you should enclose a direct debit instruction with your completed application form. Of course, as long as you do not exceed the maximum contributions allowed you can send in both a cheque and set up a Direct Debit.

You can set up a regular subscription plan or make one off subscriptions via the Halifax Share Dealing online service once your direct debit is in place. Please allow 10 working days from our receipt for your Direct Debit Instruction to be processed.

I haven't received my confirmation documentation or some of the documents were missing. What do I need to do?

If after 5 working days you have not received your confirmation documents or something is missing, please call Halifax Share Dealing on 08457 22 55 25 (8am to 9.15pm, Monday to Friday and 9am to 1pm on Saturdays).

Some details are incorrect on my confirmation documentation. How do I get them changed?

If you need to change any of your personal details on your application form after you have submitted it, please write to, Halifax Share Dealing Limited, Lovell Park Road, Leeds, LS1 1NS or call Halifax Share Dealing on 08457 22 55 25 (8am to 9.15pm, Monday to Friday and 9am to 1pm on Saturdays) who will make the changes for you.

How will I know how my investment is performing?

You are able to monitor the value of your investment via the Halifax Share Dealing online service.

How is the return on my child's investment calculated?

Please remember that the Halifax Junior Stocks & Shares ISA cannot be closed or cashed until the child reaches the age of 18 (unless there are exceptional circumstances).

The value of your investment is not guaranteed and the child may get back less than invested. What the child gets back will depend on:

• how much was invested,
• how long the money was left invested for,
• the investment performance while it was invested,
• the effect of any charges.

When will my child's money be invested?

If you send in a Direct Debit instruction with your application your subscription will be debited from your account on or around the 1st of the month and invested up to 5 days later.

If you send in a Cheque with your application, this will be invested within 5 working days of receipt at Halifax Share Dealing.

You can also set up and amend a Direct Debit instruction at any time via the Halifax Share Dealing online service.

What if I change my mind?

You’ll have 30 days to cancel if you are not completely satisfied with your investment. The 30 day cancellation period starts from the day you receive your cancellation notice, which you will have received within 5 days of opening your account. Should you wish to cancel, please complete the cancellation form included with your welcome letter or call Halifax Share Dealing on 08457 22 55 25 (8am to 9.15pm, Monday to Friday and 9am to 1pm on Saturdays) who will send a cancellation form out to you. You need to do this on or before 30 days of receipt. Please remember that if you have paid a lump sum and the value of your investment has decreased in the period between you purchasing and cancelling your investment, you will get back less than you originally invested. Please note, due to the HMRC regulations, once the 30 day cancellation period has expired you will not be able to access the funds at all – they will only be available to the child once they have reached 18 years of age.

If you’d like to discuss your investment needs with your Financial Adviser you can arrange an appointment by calling 0845 850 3701 or book an appointment online. Please be aware that our Financial Advisers in branch cannot advise on the Halifax Junior Stocks & Shares ISA as it’s only available to buy online. If you need advice on the Halifax Junior Stocks & Shares ISA you’ll need to speak to an Independent Financial Adviser. You might have to pay for independent financial advice.

What documentation will I receive after cancelling my child's investment?

Halifax Share Dealing will send you a letter confirming the cancellation which will confirm how much will be returned to you and how those funds will be paid to you.

How do I close or take money out of my child's Halifax Junior Stocks & Shares ISA?

You will not be able to close or take money out of the Halifax Junior Stocks & Shares ISA in the normal course of events.

When the child reaches 18 years of age the Junior Stocks & Shares ISA will mature into an adult Stocks & Shares ISA, with those terms and conditions. Halifax Share Dealing will send a maturity pack to the child before they turn 18 which will detail the how the child can withdraw the funds or continue with the Stocks and Shares ISA

What happens when my child reaches 18 years of age?

When the child reaches 18 years of age the Junior Stocks & Shares ISA will become a full adult Stocks & Shares ISA, with the terms and conditions of Halifax Share Dealing Limited. The 18 year old can then continue with the investment or make a full or partial withdrawal.

Can I make additional payments to my child's investment or amend the regular premium amount?

You can top up your Halifax Junior Stocks & Shares ISA up to a maximum of £3,600 in the 2012/2013 tax year. You can top up with a minimum of £20 lump sum and you can increase your monthly payments at any time. The minimum overall monthly payment is £20. All increases to your Direct Debit payment and one-off payments must be made online, via the Halifax Share Dealing online service.

Can I change my investment amount?

You can change your subscription amounts online at any time via the Halifax Share Dealing online service.

Can I make an additional investment less than the minimum amount to utilise my child's remaining Junior ISA Allowance?

Yes, if you would like to make a contribution lower than the minimum to use your remaining Junior Stocks & Shares ISA allowance, then you’ll be able to do this by calling Halifax Share Dealing on 08457 22 55 25 (8am to 9.15pm, Monday to Friday and 9am to 1pm on Saturdays)

How soon can I make an additional subscription?

You can make an additional subscription to your investment at any time via the Halifax Share Dealing online service, once your direct debit is in place. Please allow 10 working days from our receipt for your Direct Debit Instruction to be processed.

How can I find out how many units I’ve bought?

All information relating to your deal(s) and investments will be available for viewing on the Dealing History page of the Halifax Share Dealing online service.

How do I change the date my regular subscription will be taken on my Halifax Junior Stocks & Shares ISA?

You can change the subscription date online at any time via the Halifax Share Dealing online service.

Who can make contributions into the Junior Stocks & Shares ISA?

We will only accept payments from the registered contact. If other people wish to make contributions they should go via the nominated contact.

I’ve read all the frequently asked questions, but I would still like to speak to someone to help me, who should I call?

Call Halifax Share Dealing Limited on 08457 22 55 25 and we will be able to answer any other questions. Please remember we cannot say if the Junior Stocks and Shares ISA is right for your child. Lines are open 8am to 8pm, Monday to Friday. Your branch Financial Adviser can’t help set up or amend your Halifax Junior Stocks & Shares ISA as it’s only available to buy online, but they can help you with your wider investment needs. To book an appointment with a Financial Adviser please call 0845 850 3701 or book an appointment online.