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childrens savings
lanko
Posts: 24 Forumite
my partner has just got a lumps sum she wants to put the money away for the kids but dip into it when neeeded xmas etc.is ther anyway we could put it in the kids names and use it when needed for the kids .anyone any ideas:money:
0
Comments
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For each child she can open an account and place in it money provided the interest earned is not greater than one hundred pounds.
Basically the reason for this limit is that were there no limit almopst all parents would consider lplacing money in their childs name to avoid tax. The government has nipped that little ploy in the bud...0 -
My son has a Nationwide Childrens account. I operate it. Straight forward Passbook accout and over the counter so you can pay in and take out when ever you like.0
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