JUNIOR ISAS All you need to know

Here's how to save for a little one's future

- CAROLINE BLOOR

Given rising living costs, economic uncertainty and now the proposed inheritance tax on pensions, you may be wondering how to help the young people in your life without leaving yourself short. One tax-efficient way is by saving into a Junior ISA (JISA). 'If you begin early, the child could have a substantial sum of money by the time they turn 18,' says Michelle Holgate, senior financial planner at RBC Brewin Dolphin.

The essentials

* Only a parent/legal guardian can start a JISA for a child under 16, but anyone can contribute to it.

* The JISA allowance is £9,000 a year (for current tax year).