Dingdongler

I wanted to buy some nsandi index linked certificates for my kids. This is allowed by nsand i and they are tax free.

How would the tax man view this? Would he see it as me avoiding tax by transferring cash to my children? My kids are only small, I'm not actually giving them the money for good, I will need it back at some point!

Thanks

john banks

I would think if you are needing it back it isn't really theirs.

Have you already bought the £60k you can for this issue between you and your wife? With the number of issues, it is possible to tuck away this amount about once a year if you wanted to.

Dingdongler

So you mean tax man wouldn't view it favourably?

The max is £15k each John, not £30k

john banks

Each of you can buy the 3 and 5 year issues which always seem to release at the same time, so £60k a pop. Interest rates are fairly similar, and you can access them early, with no interest if in the first year. When the mature they can be rolled over into a new issue as well as you being allowed to invest new money in the new issue as well.

Dingdongler

Didn't realise that, thanks

Dunk

iTrader: (1)

From memory, if the interest earnt on the gift exceeds £100, it's taxable on the parent.

D

Midlife......

iTrader: (2)

Dingdongler........... Are you not lying in bed in a foreign country somewhere with a terrible disease with your kids and unable to get home ??

https://www.scoobynet.com/non-scooby...ck-abroad.html

Shaun

Dingdongler

Managed to drag myself onto the plane and got back on Monday night. Now in bed in the UK, almost back to normal just a little weak and nauseous