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Best Childrens savings
Challenger20
Posts: 3 Newbie
I have been saving for my 10 year old since he was born approximately £2k per year and it has now amounted up. What is the best way to save this amount of money to not pay tax on it
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Comments
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Inside an ISA?Remember the saying: if it looks too good to be true it almost certainly is.0
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Do you mean that you have gifted this into an account for your child and hold it as bare trustee for him?
If so, you are aware of the "£100 rule"?
https://forums.moneysavingexpert.com/discussion/56396660 -
It is an accumulation of saving and birthday / christmas money that he has been given0
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