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  • FIRST POST
    • consumers_revenge
    • By consumers_revenge 5th Jan 18, 1:19 PM
    • 3,031Posts
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    consumers_revenge
    tax and children account
    • #1
    • 5th Jan 18, 1:19 PM
    tax and children account 5th Jan 18 at 1:19 PM
    Hi,


    May have been answered before but what to stop the parent putting money into a childs account that has a much better interest rate? Its an account I have set up for my sons future years and also have his real monthly addition paid into it to.


    Im sure there was some HMRC thing?


    Cheers.
Page 1
    • BoGoF
    • By BoGoF 5th Jan 18, 1:25 PM
    • 2,838 Posts
    • 2,081 Thanks
    BoGoF
    • #2
    • 5th Jan 18, 1:25 PM
    • #2
    • 5th Jan 18, 1:25 PM
    If the interest is more than £100 it will be treated as the parents income
    • consumers_revenge
    • By consumers_revenge 5th Jan 18, 1:48 PM
    • 3,031 Posts
    • 1,595 Thanks
    consumers_revenge
    • #3
    • 5th Jan 18, 1:48 PM
    • #3
    • 5th Jan 18, 1:48 PM
    Brill, cheers for confirming.
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