NS&I certificates - buying as trustee

teralin

I already have my maximum allowance in NS&I index linked certificates issue 48. I understand that I can invest a further £15000 as trustee for my husband. Can anyone who has done this tell me how I go about buying these certificates as trustee for someone else. Can I do this online?

Many thanks

Spiggle

teralin wrote: »

I already have my maximum allowance in NS&I index linked certificates issue 48. I understand that I can invest a further £15000 as trustee for my husband. Can anyone who has done this tell me how I go about buying these certificates as trustee for someone else. Can I do this online?

Many thanks

Not sure as a trustee for your husband but I have certificates as a trustee for my granddaughters and couldn't do it online. They need birth certificates etc and so download the form from their website fill it in and post with required documents and cheque for amount.

I'm sure this isn't relevant to you but as I wanted to maintain control of the certificates rather than the money being in the control of my granddaughters and their parents, I had to jump an extra hoop or two. The NS&I helpline staff are hugely helpful if you give them a ring but they are busy.

Hope that helps,
Spigs

teralin

Thanks Spigs, I'll give them a call tomorrow.

kidmugsy

My wife bought some in trust for me. We printed the Trust Application form off the website, filled it in, and posted it with the cheque. We didn't post off any evidence such as birth or marriage certificates.

stella-blue

Why is there no publicity about these as they seem a good way of saving tax? I saw them mentioned in the Sunday Times advising a couple to set themselves up as 'Bare Trustees' for each other. I don't know what this means.

Are there any disadvantages/problems to doing this? Also are they likely to be withdrawn, as happened with the 'regular' type until this year?

I hope someone will advise, thanks.

lisyloo

I saw them mentioned in the Sunday Times advising a couple to set themselves up as 'Bare Trustees' for each other. I don't know what this means.

Couples can put them in trust for each other.
Basically it's a way of increasing their allowance from £30K to £60K.

Are there any disadvantages/problems to doing this?

You might not get immediate access in a divorce, but normally people are doing this because they have exceeded their own £15K allowance.

Also are they likely to be withdrawn, as happened with the 'regular' type until this year?

They aren't a different "type". Just a different way of buying the same thing.
They could be withdrawn if too many are purchased, but that would be speculation. No-one knows.

duggo1

lisyloo wrote: »

Couples can put them in trust for each other.
Basically it's a way of increasing their allowance from £30K to £60K.

You might not get immediate access in a divorce, but normally people are doing this because they have exceeded their own £15K allowance.



They aren't a different "type". Just a different way of buying the same thing.
They could be withdrawn if too many are purchased, but that would be speculation. No-one knows.

I've just posted another thread about these and been told it's fraud if my husband were to use up his trustee allowance on me! All I wanted to know was who would own the if he bought them for me or I bought them for him!