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Many people would like to invest for children. On special occasions
children receive gifts of money, which are often placed on deposit
with a bank or building society. Whilst this is a good first step
and provides readily available money for special purchases, consideration
should also be given to the longer term.
With this in mind, one idea worthy of consideration is investing
via stock market linked funds. The growth potential of such funds
is widely recognised, particularly as medium to long term investments.
The Child Trust Fund, a tax efficient long term savings vehicle for children, offers another alternative. Every child receives a Government funded voucher which can only be invested within a Child Trust fund. All the money paid in to the account belongs to your child, so only they can access it and only when they’re 18. Children born after December 2010 will not be eligible for a Child Trust Fund, but accounts set up for eligible children will continue to benefit from tax-free investment growth and no withdrawals will be possible until the child reaches age 18. The child, friends and family will continue to be able to contribute up to an overall total of £1,200 a year, and it will still be possible to change the type of account and/or move it to another provider.
Please contact us to arrange a meeting if
you wish to discuss your investment requirements.
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