Child savings that would not be counted as mine

Auti

Hello, I currently save £20 a month into a child savings account from child’s child benefit with the rest used for his clubs etc. For valid and New Style ESA (contribution based) accepted (no work requirements) reasons I am on ESA, PIP and Child Tax Credits (WTC and CTC when I was working). I know that moving to UC is coming up from CTC  and think they will say the money saved for child (some from other people) will count in my savings - this money is being saved for child’s future such as housing, uni, education, travel etc as I think, given the world today, child will need all the help they can get. I view this as good use of CB money and of benefit to the child. My question is, is there a savings vehicle that is safe to put the money into that is not counted as my savings but child’s - I should add I am his legal guardian not birth parent.

Daliah

See https://twitter.com/martinslewis/status/1245700507429154817?s=21

You might get a better response if you ask on https://forums.moneysavingexpert.com/categories/benefits-tax-credits

Auti

Daliah said:

See https://twitter.com/martinslewis/status/1245700507429154817?s=21

You might get a better response if you ask on https://forums.moneysavingexpert.com/categories/benefits-tax-credits

Thank you - headed over to the twitter and that answers my question - will now do the sums to see how many more £20 will go above £3000  

Marchitiello

Child ISA and child saving accounts (from 7yo) are in the Child name and can be accessed only by them (the parent is usually a trustor). You can put up to £9000 per year at present in a Child ISA. Child ISA will be accessible from when they turn 18, child account (like First saver from RBS) can be independently accessed from when they turn 12 (especially if you/they open also a Child Current account and are able to transfer between first saver and current account easily) .