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Grandparents savings for grandchildren
Comments
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As I said, a "bare trust" is just a way of holding cash or shares.
So building society accounts can be held in bare trust, as can bank accounts or NS and I index linked certs (when available- they aren't at the moment) or OEICS or Investment Trusts or gilts etc
Essentially you opt for cash in the building society/ bank, with capital certainty but inflation risk or in the stock market with capital uncertainty but hope of beating inflation or both.
When I was BT for a minor I used both.
Ahh - I realised that a bare trust was a way of holding shares. I hadn't realised that it was the same for cash too.Interested in property investment, web tech, social media, forex, equities. Also a proud father & entrepreneur of sorts.0 -
If they opt for cash, don't forget that any R85 must be signed by the parent - read HMRC link carefully.0
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