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Isa For A Child
jaffa30
Posts: 19,263 Forumite
Sorry if this sounds stupid but is it possible to get a ISA for a child.
Many Thanks & A happy New Year
Jaffa
Many Thanks & A happy New Year
Jaffa
R.I.P Sam, still in my heart
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Comments
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No you cant. However, you can invest in unit trusts, Oeics or investment trusts which are the non-tax free alternatives. Or if a savings version, you can pick a child savings account.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Hi
Thanks for that i will put his money one of them
JaffaR.I.P Sam, still in my heart0 -
Actually, I should clarify as the child could be aged 18
. I assumed, probably correctly, that it was a minor. You need to have an NI number to have an ISA and you get one of those from age 16. That is the minimum age. I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
The governement - god bless 'em - do a crappy alternative to a cash isa for an under 16, which is a http://www.nsandi.com/products/cbb/index.jsp. At least the income drived from it [of about £100 pa on the maximum £3000 held] does not go towards the £100 limit for a child before the taxman cometh.....under construction.... COVID is a [discontinued] scam0
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