Earlier this year we posted a quiz with a variety of questions on Junior ISAs. We had a great response with a large number of people giving it a go. But we also realised when looking at the results that there was not one question that was answered correctly by everyone who took the quiz.
So we have decided to share the questions along with the correct answers here but don’t read further if you want to have a go at the quiz first!
1. Who is eligible to open a Junior ISA?
Answer is A: A Junior ISA can only be opened for a child by that child’s parent or legal guardian.
2. What is the current annual contribution limit for Junior ISAs?
Answer is C: The Junior ISA subscription allowance is £9,000 for the 2026/27 tax year. This is the maximum amount of contributions into junior ISAs in total allowed per child, whatever the source.
3. Can you cancel a Junior ISA?
Answer is B: HMRC allows a grace period of up to 30 days after application during which a JISA can be cancelled and any contributions returned. After that point, JISAs cannot be closed but they can be transferred to other providers.
4. What is a key tax benefit of a Junior ISA?
Answer is B: Junior ISAs are tax-exempt which means no income tax or capital gains tax is normally due on any income or growth in value of the account.
5. When can money usually be withdrawn from a Junior ISA?
Answer is A: Money in a Junior ISA can only be withdrawn by the child once they turn 18, until that point savings are locked away.
6. What happens to a Junior ISA if a child moves abroad?
Answer is D: If a child with an existing Junior ISA moves abroad, parents and others can still make contributions into the account.
7. Can you transfer a Junior ISA to another provider?
Answer is Yes: You can transfer your child's Junior ISA to another provider. Check your current provider’s terms as some providers may charge fees for transfer outs. At Beanstalk we take care of the switching process to us, all you need to do is complete our simple transfer form.
8. Who manages a child’s Junior ISA until they turn 18?
Answer is D: The Junior ISA is in the child’s name, but the parent/legal guardian is responsible for managing it until the child turns 18.
9. Who can contribute directly to a Junior ISA?
Answer is D: Junior ISAs allow contributions to be made by anyone. How easy this is can vary depending on the provider. With gift links and invites, Beanstalk makes it really simple for grandparents and others to contribute.
10. Can you open one JISA for twins?
Answer is No: A Junior ISA can only be in one child’s name so if you have twins (or even triplets!) you need to open a separate Junior ISA for each child.