For parents looking to save and give their children a head start in life, the recent launch of Shepherds Junior ISA is good news, providing a tax-efficient way to save towards university fees, a deposit on a first home or a special treat at age 18.

The plan allows you to save up to a maximum of £3600 a year with tax-exempt growth and a tax-free lump sum to look forward to; investments can be in monthly sums from £10 a month and lump sums of a minimum of £100 at a time. So your savings plan can be flexible to suit your changing circumstances over the years.

A Junior ISA can be started for any child who is a UK resident aged under 18 and who does not already have a Child Trust Fund opened in their name. It's not only parents who can contribute to the plan; grandparents, aunts, uncles and family friends can also invest in the plan, making this an ideal alternative when it comes to presents on birthdays or at Christmas.

At a time when parents are only too aware of the possible financial burdens their children might face as they approach the age of 18, the new Shepherds Junior ISA lets you give them a helping hand by saving in a consistent, yet flexible and tax-efficient manner.