Named Responsible Investor of the Year at the Insurance Asset Risk Awards 2022, Wesleyan's investment team won Investments Team of the Year in 2023. This same team manages WUTM funds.
Offering the chance to invest in a range of managed funds, a Unit Trust Junior ISA from Wesleyan Unit Trust Managers (WUTM) can help you give your children a head-start on their savings.
Dealing costs and ongoing charges will apply. If you take advice from a Specialist Financial Adviser from Wesleyan Financial Services, an initial advice charge will also apply.
Why invest with Wesleyan Unit Trust Managers (WUTM)?
Give us a call on 0808 189 1874. We're open Monday to Friday, 9am - 5pm.
To top-up an existing WUTM Junior ISA, please just log in to the WUTM Investor Portal or give us a call.
Book an appointment with a Specialist Financial Adviser from Wesleyan Financial Services (initial advice charge applies). Or you can download, complete and send us the transfer form below:
Yes, it’s a stocks and shares junior ISA, invested in our Unit Trust funds. Unit Trust funds are split into a large number of equal units, and those units are effectively what you’re buying when you pay into the ISA.
The value of the units can then rise or fall depending on the performance of the fund’s underlying assets.
To open a Junior ISA on behalf of your child, you’ll need to be the child’s parent or legal guardian, and you’ll need to be a UK resident for tax purposes. The child must be under 18.
The JISA is initially managed by the person who applies for the account - known as the ‘registered contact’. The child can take over the management of the account from age 16, though they still won’t be able to access the funds until their 18th birthday.
Each tax year (6th April to 5th April), there’s a certain amount of money you’re allowed to save into Junior ISAs. For tax year 2023/2024, that allowance is £9,000.
Just be aware that tax rules for ISAs can and do change, so the allowance may vary from year to year. If you don’t use your full allowance during the tax year, you won’t be able to carry any over.
No, not at all. Every adult has a £20,000 tax-free ISA allowance for tax year 2023/2024, and this is entirely separate from the £9,000 Junior ISA allowance. In other words, you can save £9,000 into your child’s Junior ISA, and still put the full £20,000 into your own ISAs in the same tax year.
The child also gets their own ‘adult’ ISA allowance from 16, which is also separate from (and unaffected by) the Junior ISA allowance.
Except for in very exceptional circumstances, no money can be taken out of a Junior ISA until the child turns 18. So, if you open the account when your children are young, it’s a long-term investment with plenty of opportunity for growth.
Note that while you can’t withdraw from the ISA, you can transfer it to another provider at any time. Similarly, you can transfer to a WUTM Unit Trust Junior ISA from another provider.
Once your child turns 18, the account will automatically convert to an adult version of our Unit Trust ISA, held in their own name.
They’ll be able to take the money out without any exit fees. Or they can continue to save and invest with an increased adult ISA allowance of £20,000 per tax year (bear in mind ISA allowances can and do change).
Yes, you can hold a cash junior ISA for your child as well as a stocks and shares junior ISA, and you can pay into one of each type in the same tax year. The overall limit remains £9,000 though.
When you invest in a Unit Trust Junior ISA, there are some management and dealing costs to pay. These costs are shown as Ongoing Charge Figures (OCFs). The latest OCFs for each fund can be found above.
If you opt in to the Ongoing Advice Service (OAS) provided by Wesleyan Financial Services, please note an additional 0.5% will be added to the OCF charge.
There is also an initial 3% advice charge for advised applications or transfers, to cover the cost of the advice. We (WUTM) will collect this charge on behalf of Wesleyan Financial Services (WFS) and pay it to them.
The WUTM Unit Trust Junior ISA is a stocks and shares junior ISA. You can invest in one stocks and shares junior ISA and one cash junior ISA on behalf of your children in the same tax year. In total, the maximum amount you can save in Junior ISAs in the 2023/2024 tax year is £9,000.
You’ll pay no personal income tax or capital gains tax on your investment returns from the WUTM Unit Trust Junior ISA.
This is based on current understanding of legislation and tax treatment, which can change in the future.
Before you apply to open a Unit Trust Junior ISA for your children, please read the following documents:
Please also read the latest Key Investor Information Document (KIIDs) for any fund(s) you’re considering investing in. These can be found above.
If you are already investing with us and have opted into the Ongoing Advice Service (OAS) provided by Wesleyan Financial Services, the appropriate 'B' unit class KIIDs are available through the WUTM Investor Portal.