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Got Lump Sum to pay future School Fee's. Where to put it?
Botty_2
Posts: 3 Newbie
Hi all
We have about 100k which has to be used to pay for school fee's and other related costs like uniforms and school trips etc. We are not sure as where is best to put this money. Currently we pay about 6k a term (18k per annum) but this will drop by a third in 12 months time as the eldest leaves private education.
We need to achieve a good rate of interest but are not sure if it should be in our names due to any tax implications. Obviously we need to have easy access to the money.
Any advice will be much appreciated.
TIA
We have about 100k which has to be used to pay for school fee's and other related costs like uniforms and school trips etc. We are not sure as where is best to put this money. Currently we pay about 6k a term (18k per annum) but this will drop by a third in 12 months time as the eldest leaves private education.
We need to achieve a good rate of interest but are not sure if it should be in our names due to any tax implications. Obviously we need to have easy access to the money.
Any advice will be much appreciated.
TIA
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