HALIFAX Children's Regular Saver

bitemarx

Hello,

I want to start a children's regular saver account with Halifax in my son's name. I read through their website as much as I could, but I've got a few questions:

1. Can my son have more than one of these accounts with different trustees?
2. Would the interest be taxed?

I would appreciate any pointers on this, since I'm new to the money saving lifestyle!
Thanks
M

opinions4u

bitemarx wrote: »

Hello,

I want to start a children's regular saver account with Halifax in my son's name. I read through their website as much as I could, but I've got a few questions:

1. Can my son have more than one of these accounts with different trustees?

Yes. Works for me!

2. Would the interest be taxed?

Yes. Unless the parent confirms that it shouldn't be in which case the bank can register the account to pay interest gross.

There are rules about children earning £100+ in income where the capital has come from a parent. Linky thing here to get the official rules.