Parents have used the coronavirus stock market crash as a buying opportunity and put their children’s savings into shares despite the prospect of global economic recession.
They hope to capitalise on depressed share prices now in order to reap greater profits in the long term, on the assumption that markets will eventually recover.
This tax year, they are able to invest more money tax free on behalf of their children than even before, after the Government more than doubled the previous £4,368 annual Junior Isa allowance to £9,000. The parents retain control of the money until their child turns 18.
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