I want it to be held in British Sterling and I don't want him to have access to it until he is say 18. it needs to be free of uk taxes. I would like to put in a lump sum of £5000 immediately and pay monthy by direct debit £25.
2007-01-11 05:45:03 · 2 answers · asked by Charles P 1 in Business & Finance ➔ Personal Finance
go to any major building society/bank who offer better rates for children. the account will have to be in your care i think with his name on the account. you may possible need legal advice depending on which country he resides in.
2007-01-14 06:21:04 · answer #1 · answered by alan t 3 · 0⤊ 0⤋
You could take out an ISA for 10 years then put the money into a high interest account.ISA are tax free only it would be in your name.You will need to see a solicator to put it in your nephews
name.Good Luck
2007-01-15 09:45:38 · answer #2 · answered by Ollie 7 · 0⤊ 0⤋