NS&I Index-linked - buying in trust

Legacy_user

It says in the literature that these are suitable for buying in trust, on the special trust application form. But I cannot see any link to download a form, only the ordinary application. Has anyone got a link?

Baldur

See http://www.nsandi.com/files/asset/pdf/saving-certificates-trustee-print-and-post-application-form.pdf

System

Thanks very much. I don't know why I couldn't find it.

Baldur

Clifford_Pope wrote: »

I don't know why I couldn't find it.

I just used Google, rather than trawling the NS&I site.

System

I'm now wondering whether it can be used by a discretionary trust. It doesn't actually say anywhere that it can't, but it does ask for names of all beneficiaries (infinite, mostly not born yet) and the settlor's name and DOB, but not date of death.

Baldur

Clifford_Pope wrote: »

I'm now wondering whether it can be used by a discretionary trust. It doesn't actually say anywhere that it can't, but it does ask for names of all beneficiaries (infinite, mostly not born yet) and the settlor's name and DOB, but not date of death.

Try calling their freephone contact/helpline number - 0500 007 007

System

Ha ha! Needless to say it's permanently engaged and there is no queue system. I just thought someone might know.

kidmugsy

I'm a trustee of a Discretionary Trust. We've used ILSCs for years. They are guaranteed, protect the value of the money invested, and expose the Trust to no income tax or capital gains tax. Yippee!

System

That's useful to know, thanks.
What did you put down under beneficiaries? Will just one living beneficiary do, or do they really want a long list of living and projected potential beneficiaries within the same class? Does it matter if the named beneficiary also holds the maximum allowance under his/her own right?

kidmugsy

What did you put down under beneficiaries? etc etc.

On the form you will see

"You can use this form to purchase Certificates direct by post:

[either] in the joint names of the trustee(s) and beneficiary(ies) - fill in sections 1, 2, 4, 5 and sign in 6

[or] in the name(s) of the trustee(s) only - fill in sections 1, 2, 3, 4, 5 and sign in 6"

So you can buy with only the names of the trustees reported. We, in fact, did report the name of one beneficiary though I can't remember why. Perhaps they asked for more info back then. When we cashed some in, though, it was only the trustees' signatures that they required.

System

Many thanks. I should have read the small print !