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
Buying Shares for Children
beaker141
Posts: 509 Forumite
Can anyone help to clarify how you would go about this ?
I want to be able to buy £200 of shares in a selected company, lets say Tesco for the sake of an example, using my childs savings (on behalf of said child) as a long term investment. I have seen scant mention of holding shares in trust for children but don't fully understand how this would be done.
I would also hope to be able to then get any dividend payments tax free (can this be done in a similar way to R85 for savings or would I have to write to Inland Revenue every year to ask for the tax back - which would actually give me great pleasure).
Also, does anybody know of any online execution broker that would allow the above, and offer low dealing charges. I am not planning on jumping the shares around much at all so this shouldn't be a major impact.
I reckon it has to be more exciting for kids to be able to see bits of what they own, rather than just getting a bit more interest each year, I could teach him that he owns part of Tesco, or Hit Entertainment etc.
I want to be able to buy £200 of shares in a selected company, lets say Tesco for the sake of an example, using my childs savings (on behalf of said child) as a long term investment. I have seen scant mention of holding shares in trust for children but don't fully understand how this would be done.
I would also hope to be able to then get any dividend payments tax free (can this be done in a similar way to R85 for savings or would I have to write to Inland Revenue every year to ask for the tax back - which would actually give me great pleasure).
Also, does anybody know of any online execution broker that would allow the above, and offer low dealing charges. I am not planning on jumping the shares around much at all so this shouldn't be a major impact.
I reckon it has to be more exciting for kids to be able to see bits of what they own, rather than just getting a bit more interest each year, I could teach him that he owns part of Tesco, or Hit Entertainment etc.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards