Ethical investments tax free for neice and nephew

Katek

Hi,

I would like to invest about 20 per month in account for each of my niece's, nephew, and my own child. I was looking at Scottish Friendly society investments but I would like some information on what else is out there and what kind of returns one might achieve.

I know Halifax have excellent savings rates at the moment but I don't think as an Aunt I would be able to access those tax free, as my understanding is that it is for the JISA only?

Information and suggestions very welcome.

Thanks
K:beer:

atush

Personally, I think friendly society plans have fairly high charges and not so great performance.

And in general 'ethical' investments don't do so well as general ones, not to mention the definition of what is ethical changes from firm to firm and you might not agree.

Look at an investment trust savings plan, invesco perpetual ones take from 20/month. Check to see what they invest in, and it if meets your own definition of the term?

dunstonh

I was looking at Scottish Friendly society investments but I would like some information on what else is out there and what kind of returns one might achieve.

High charges. Obsolete investment product. Low potential. Best avoided.

Linton

I see no reason why a Friendly Society's investments should be more ethical than any other fund manager's. For example the Scottish Friendly Society's Managed Growth Fund is 3% invested in British American Tobacco and over 4% invested in aerospace and defence. Do these pass your "ethical" test?

xylophone

With regard to investing or saving for your own child outside a tax privileged scheme like JISA- be careful of the "£100 rule"- see http://www.litrg.org.uk/students/other-tax-issues/money-parents

If you are investing for your own child CTF/JISA might be the way to go.

You can contribute to the CTF/JISA of a niece or nephew.


There are some ethical OEICS listed here - http://www.money.co.uk/oeics/ethical-oeics.htm

It might be possible for you and a parent to hold an OEIC in bare trust for a child.

Or you might consider an Investment Trust held in Bare Trust - some information here http://www.money.co.uk/oeics/ethical-oeics.htm

Yorkie1

Please click 'spam' on Vonda's post - 10 identical posts promoting the same book.