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£100 interest limit for children
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Oh well, I stand corrected. Good job most of what mine have were in JISAs!
Honestly though, I suspect unless you were creating an incriminating paper trail between relatives, it would be nigh on impossible for HMRC to spot. Not that it makes it right or anything
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Even if it did work, parents making a gift to grandparents so that they can then gift it to the grandchildren would be complete madness if the grandparents are likely to be liable to Inheritance Tax. If they died within 7 years, you've then increased their IHT liability by 40% of the gift (after deducting the £3,000 annual gift allowances etc).
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