Sweet sixteen

Lilyboo12

My daughter will be 16 later this year. What can you add to my list of things to consider, relating to her finances:
- 16-17 Railcard (or 16-25 railcard?
- stop child benefit
- get NI number
- make sure her work deducts tax and NI and pension contributions
-ISA (junior or adult?)

RAS

Lilyboo12 said:

My daughter will be 16 later this year. What can you add to my list of things to consider, relating to her finances:
- 16-17 Railcard (or 16-25 railcard?
- stop child benefit
- get NI number
- make sure her work deducts tax and NI and pension contributions
-ISA (junior or adult?)

Is she not remaining in education or training?

Does she earn more than the single person's allowance.

Spendless

16-17 railcard is better. 50% off, no restrictions on time it can be used (16-25 use before 10am and you have to pay min £12 fare) and you can also buy season tickets with the discount.

Child benefit office will write to you and ask what she is doing. NI usually gets sent automatically (just chase if not appeared by birthday) 

Isn't she PAYE, they should sort that.

No idea about Isas 

If there's a boyfriend on the scene (or even if you think she'll become sexually active)  have a conversation about getting and using reliable contraception. 

p00hsticks

Lilyboo12 said:

-ISA (junior or adult?)

I belevie the rules are changing from April so that you will now need to be 18 to open an adult cash ISA, so a junior ISA is the only option (and is available to her now)