Investing Money in a Children's Account

capability_jones

I have £60K in savings accounts and am currently a non-tax payer. I have concerns about the possibility of divorce and am considering putting this money into an acount for one or both of my children (ages 12 and 14). When assets are considered (in a divorce) would this be looked at since it is actually in my child's name?
Would I be able to access the money easily?
I understand that tax would be payable above £100 interest. Since I am giving the money rather than my husband and since I earn less than the threshold, does that mean that I will not have to pay any tax?

le_loup

It is either your money or your children's. If you give it to your children it must be an unconditional gift.
In divorce or other legal processes, there are declarations to be made. When asked a question, do not lie.