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Saving For A Nipper!
The_Hunter_2
Posts: 4 Newbie
I would like some advice please. I want to start an account for a new born baby a family member is expecting. The kind that when they are 18 or 21 they have a few grand to spend on something.
Any ideas? ISA, trust fund..?
Thanks
Any ideas? ISA, trust fund..?
Thanks
0
Comments
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The standard thing for this is a child trust fund (CTF). (See http://www.childtrustfund.gov.uk/) Whoever becomes the child benefit receiver for the baby will get a child trust fund voucher (£250 I think) to invest in a CTF. They then have the choice of the many banks/societies providing CTFs. Once opened other people can contribute money into these accounts. (A total of £1200 per year in total can be contributed.)
I hope that's of use.0
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