Investments for Children
Investments for Children
How best to provide for your child's future....
How best to provide for your child's future is perhaps one of the most important and yet the most difficult decision facing both parents and grandparents.
The best time to start saving for your child's future is from the day they are born. However, no matter what age your child is, the right time to start saving is now.
Saving a regular amount each month for 15 to 20 years will make a massive
difference to your child's future.
School Fees Planning
More and more parents now want to educate their children privately. Few parents can afford to cover all the costs involved from income alone and therefore school fee planning should be put in place at an early date.
University Fees Planning
Since University Grants have been replaced by Loan Schemes, it has become increasingly difficult for parents and their children to fund university fees. Books, Tuition, Accommodation and Living Costs for a 3 year degree course will set you back many thousands of pounds.
Savings for Grandchildren
The advantage of saving for your grandchildren's future is that you will reduce any potential inheritance tax.
Tax-Free Savings Plans
Children, just like adults, have their own personal tax allowance. Any income they receive within the set limit will be tax-free. You can also stop tax being deducted from the interest on your child's savings account by completing a simple Inland Revenue form.
Think about planning for:-
- School Fees
- University
- Savings for Grandchildren
- Tax Free Savings Plans
- National Savings Bonds
- Child Trust Funds
- Savings Accounts for children
Don't put if off any longer, to discuss the options available to you, contact us now, for a free consultation.