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Investing 5000 Euro Gift for Son
Ralph_the_Cat
Posts: 12 Forumite
My Dad in Ireland sent a cheque to my 7 year old son for Euro5k in his name.
I want to open up a saving account for him and was wondering if anyone had some advice on what is the best way to go about this. I hope to minimise the cost of cashing the cheque, get a decent exchange and interest rate.
Also, are there any tax implications arising from a gift of this size?
Thanks.
I want to open up a saving account for him and was wondering if anyone had some advice on what is the best way to go about this. I hope to minimise the cost of cashing the cheque, get a decent exchange and interest rate.
Also, are there any tax implications arising from a gift of this size?
Thanks.
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