We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Savings in trust
calcium
Posts: 1 Newbie
My brother (20), sister (15 1/2) and I (22) each have £5,000 inheritance that must be held in trust for us until we are 25.
Can the money saving experts advise which deal is likely to reap good interest? Obviously there is no issue having it as a bond so long as the account has trust status.
We would be happy to move the money (if possible) after 1/2/3 years if this is advantageous.
Many thanks.
Can the money saving experts advise which deal is likely to reap good interest? Obviously there is no issue having it as a bond so long as the account has trust status.
We would be happy to move the money (if possible) after 1/2/3 years if this is advantageous.
Many thanks.
0
Comments
-
In view of the fact that the money is to be held in trust until the age of 25, I suggest that you contact HMRC re tax treatment before embarking on investing the money- once this has been clarified come back to the forum?
http://search2.hmrc.gov.uk/kbroker/hmrc/contactus/search.ladv?sr=0&as=1&cs=ISO-8859-1&sc=hmrc&sf=&sm=0&nh=50&ha=34&tx0=49689&fl0=__dsid:&tx1=2037&raction=view0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.3K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards