Martin Lewis issues £1 reminder to parents of teenagers ahead of ISA change

Published date27 March 2024
Publication titleManchester Evening News: Web Edition Articles (England)
All any parent or teenager needs to do to open one of these ISAs before the new tax year, April 6, is to deposit a minimum of £1 into the account. This will give them access to up to £20,000 in tax-free savings each year and could help them on their way towards every parent's dream of a financially independent child

Currently, there are very few banks still offering ISAs to people aged 16 to 18 but Martin Lewis is flagging to parents and financially-minded teens that there is still one ISA option at Virgin Money that offers a high savings rate -but you don't have long to claim it.

Martin Lewis said on X: "An exception is Virgin Money 5 per cent. So consider adding £1 now, as once open you’ll still be able to contribute £20,000 a year to it over the next two years.

"And...

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