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tax and children account
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consumers_revenge
Posts: 3,568 Forumite
Hi,
May have been answered before but what to stop the parent putting money into a childs account that has a much better interest rate? Its an account I have set up for my sons future years and also have his real monthly addition paid into it to.
Im sure there was some HMRC thing?
Cheers.
May have been answered before but what to stop the parent putting money into a childs account that has a much better interest rate? Its an account I have set up for my sons future years and also have his real monthly addition paid into it to.
Im sure there was some HMRC thing?
Cheers.
0
Comments
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If the interest is more than £100 it will be treated as the parents income0
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Brill, cheers for confirming.0
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