Kids accounts - straight savings or isa ?
30 August 2005, 02:48 PM
#1
Scooby Regular
Thread Starter
Join Date: Sep 2001
Location: Kingston ( Surrey, not Jamaica )
Posts: 4,670
Likes: 0
Received 0 Likes
on
0 Posts
Kids accounts - straight savings or isa ?
My daughter (just gone 2) has managed to accrue 2.5k in her savings account - mainly as we're paying in the 60 quid a month child maintenance plus birthday / christmas monies etc .. this is with a view for it paying a wedge of University Fees or towards a house deposit if she turns out fick like me 
.
Savings account pays 5% gross , is it worthwhile sweeping 2k a time into an isa or other savings vehicle for a greater return over 15yrs ?? This would keep the bulk of it at arms length while still having some cash on hand for buying her old man shiny things in a few years :-)
Thoughts please on the options - isa's great selling point is that they are tax-free - but she doesn't pay tax anyway ......
Cheers
Steve
.Savings account pays 5% gross , is it worthwhile sweeping 2k a time into an isa or other savings vehicle for a greater return over 15yrs ?? This would keep the bulk of it at arms length while still having some cash on hand for buying her old man shiny things in a few years :-)
Thoughts please on the options - isa's great selling point is that they are tax-free - but she doesn't pay tax anyway ......
Cheers
Steve
Thread
Thread Starter
Forum
Replies
Last Post
Mattybr5@MB Developments
Full Cars Breaking For Spares
28
28 December 2015 11:07 PM
Mattybr5@MB Developments
Full Cars Breaking For Spares
12
18 November 2015 07:03 AM