Child Maintenance Lump Sum

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Flurry Posts: 6 Forumite

28 February 2005 at 10:31AM in Savings & investments

I have just received a £20,000 lump sum in lieu of maintenance payments for a 15 & 17 year old over the next four years, as my ex has emigrated. I'm interested in people's suggestions for how to treat this. I need access to £250 a month.

I imagine that if I put it in a bank account in my name, the interest will be taxed, so should probably put it in the names of the children....

Any suggestions gratefully received.

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Child Maintenance Lump Sum

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