Child's Post Office account - are these safe from CSA new Bank arrestment laws?

speedster

please do.

that info could be handy for those of us who like our money to actually go to our children.

CornishBloke29

My children live with me, but the CSA doesnt accept school documents, doctors paperwork and council tax records as evidence. They say they lived elsewhere and I have the burden of proof to the contrary. Not a discusstion for this tread.

plok

Please remember that you opening a foreign bank account is not the same as a foreign national settling a trust fund for your children. If they do this the bank account can be in the UK - so I'm told - apparently - it could all be b*ll*cks.

speedster

CornishBloke29 wrote: »

My children live with me, but the CSA doesnt accept school documents, doctors paperwork and council tax records as evidence. They say they lived elsewhere and I have the burden of proof to the contrary. Not a discusstion for this tread.

hey. it's your thread!! :beer:

plok

Power to the OP too :beer:

CornishBloke29

I am not sure of the legal position of trusteeship. I have conflicting advice whether the CSA can infer the assets in trust can be deemed to belong to me under the pretence I have interest in possession.

The fact the CSA routinely contradicts other legislation indicates it will intentionally pervert the Trustee Acts 1925/2000 to obtain money. Because the CSA is a statutory body, it is immune from criminal liability and cannot be charged with embezzlement under the fraud act.

I am not even sure of the legal status of a simple child's post office account book, the CSA could interpret the post office as being a "deposit taker" - to borrow the CSA own description of a bank, and construe I have IIP because I can draw money from the account with the child's permission in the same way anyone can with a domestic joint account.

plok

BTW- I'm serious. Don't open a child account with anyone, let alone the Post Office. If you want to put money aside for your child, you can't. It will be traced back to you as income. However a non-UK domiciled person can put money aside for your child, even into a UK bank account. Bank accounts are global instruments so no need to push your foreign friend for a UK account for your child -let then open one where they live, it will serve the same purpose.

CornishBloke29

How can the CSA infer money held for a child is income? its already been UK taxed and levied for child support. Surely income is not taxed and levied twice?

Strangely enough I work for a bank, but I am at a loss the ramification of the new CSA money snatching laws, nobody has any precedents to follow, even lawyers dont fully understand its reach.

I dont need a foreign friend to open offshore accounts, I can do that myself.

I just want to know if a common-or-garden Post Office account book is safe and secure to hold money. If not then I can put it elsewhere, its no big deal.

plok

Cornishbloke,

you really don't understand the remit that the CSA has. If you put money into an account here or elsewhere for the benefit of your child you will be penalised by the CSA. The very least that will happen (under CSA2. I have no knowledge of CSA1) is that whatever you put into the account will be considered proof of your income. The worst will be that they consider it income not previously reported. Whatever way you look at it you will get a 15% "tax" for one child on the money you put into the account. Just don't do it. If you want to put money aside for your child, and we all want to do that, ask a foreign friend to do it - you can't. When the rules change, hopefully with the next gov't, then do it, just not now.

speedster

my mrs opened the childrens accounts.

nothing to do with me at all.