It’s never too early to start planning for your child’s future and finding tax efficient investments is a key part of that. You may wish to consider Junior ISA’s and Junior Bonds and may already have a Children’s Trust Fund.
A Junior ISA is a tax efficient way to invest for your child’s future. It allows you to invest over the long term for your child’s future needs such as university fees, driving lessons or a deposit for a property.There is no income tax or capital gains tax to pay on the final amount which your child can access at age 18.A Junior ISA is for children under the age of 18 and can be either cash ISA or a stocks and shares ISA.
Junior Bond is a tax efficient way to save for your child’s future and they can be opened for children aged 15 and younger.
CHILD TRUST FUND
A Child Trust Fund is a long term tax free savings account for children. You can no longer open a Child Trust Fund because the scheme is now closed however you can consider a Junior ISA described earlier.If you already have a Child Trust Fund you can continue to add money to your CTF account. The money belongs to the child but they cannot withdraw it until they are 18.
A Junior ISA or Junior Bond could be part of your overall investment plan for your child and our advisers can help you make the right decision for your needs.
To book an appointment with one of our advisers to discuss your child's investment requirements please call us on 0800 389 9708 or email email@example.com