Minimum Age For Holding Shares

Helix

Hi

What is the minimum age that someone can hold shares in their name?

Thanks
Craig

equitydealer

I believe it is 18, which is the minimum age required to open a share dealing account.

Chrismaths

You have to be 18 to own property of any kind. However you can use a 'bare' trust (where the minor becomes absolutely entitled to the assets of the trust at 18) to hold property for a minor, and this is taxed at the minor's tax rates, with one exception. If the original source of the money is a parent, then if the income or capital gain in any one year is more than £100 (gross) then it is taxed as the parent's own income. This doesn't apply to grandparents or more distant relatives.

Helix

Thanks, I have some shares in the halifax which are held in my mums name currently. I need to change the bank account the dividend is paid into so I thought I might be able to change the name on the account at the same time. Looks like i'll have to wait another few months to that then.