Halifax Childrens regular saver

bilbo_2

if i open 2 regular savers for my 2 children £100pm

my wife does the same
my sister does the same
and the grandmother does the same

but really it is me funding the accounts all from my current account

so £100pm x 12 £1200 interest about £55 x 4 = £210 (would this £210 be taxed as its from 4 different trustee's ?)

if i set up all the standing orders from the same account will it look suspect ??

Hereward

No, as each account has it's own trustee; however, if the feeder account is in your name, then all of the intrested will be taxed at your tax rate. This is because the money is comming from a parent and the intrest payable is greater than £100.