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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
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.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards