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Danni
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Forum Member
Total Posts: 3
Joined: 12 Jun 07
Member #50
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Hello all..looks like our children are a secret weapon against the tax man.
(Each child is a way to put an extra money into a high savings account without paying tax on it.)
Bag all the freebies you can! Open a range of accounts with the minimium- usually a £1 and grab all the freebies.
Current offers- Halifax- a calculator and free money box
Lloyds TSB- A free money box and height chart
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meenakshi
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Forum Member
Total Posts: 6
Joined: 14 Jun 07
Member #71
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thanx danni
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cebee
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Forum Member Total Posts: 6 Joined: 18 Sep 07 Location: UK Member #194
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Quote: Danni, Tuesday, 12 Jun 2007 19:35Hello all..looks like our children are a secret weapon against the tax man. (Each child is a way to put an extra money into a high savings account without paying tax on it.) That's one way of looking at it. Personally, I've opened an account for my baby to save up lump sums for her CTF. If her investment grows sufficiently, then she WILL become a tax payer! Fingers crossed... lol
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Nicole Simmons
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Forum Member
Total Posts: 3
Joined: 23 Sep 07
Member #209
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I have opened 2 accounts for my child. One being athe child trust fund and the other is a personal savings accout. I dont intend on putting much in to the trust fund as I am sure the government will find a way of making on it too! The savings account is to help him for his future, and allow family and friends to help him save too.
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loub
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Forum Member
Total Posts: 3
Joined: 05 Oct 07
Member #224
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Hi, Im also wary of the ctf. So my son has that a pocket money account and hes nan set one up and has put £10 in a month since he was born. Hell be better off with us.
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LauraJ4
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Forum Member
Total Posts: 3
Joined: 06 Oct 07
Member #229
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We have done the same thing too, my son has 2 accounts and all money gifts going into his savings one. Still unsure what the governments makes from the CFT and they get enough of my money!
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The right account for your child
12 Jun 2007, 19:35