More and more grandparents and parents are putting money into savings schemes or pensions for children. Investors can chose between two options: an investment that they designate to the child, so the original investor has to pay taxes on the interests but also has control over the investment, or the investor can chose for a bare trust for children, in this case they don’t receive interests but they don’t have to pay income tax. The reason for this phenomenon is simple: what people want is that they and their families profit from tax relief.
(
FT.com)
Soeliko Vercauteren
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