Forget toys, pick a fund this Christmas
Article Abstract:
Savings products for children in the United Kingdom tend to offer gimmicks which should be ignored if the savings products are financially uncompetitive. Children have income tax allowances at the same levels as adults, so savings accounts should pay them gross interest. The relevant tax forms should be submitted. Investments based on equities tend to give a long-run performance that is better than deposit accounts. Children pay capital gains tax, but they have an allowance, at 6,800 pounds sterling in 1998-1999, before they are liable.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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The cost of the learning curve
Article Abstract:
Investors may invest to pay for school fees and they can vary in the United Kingdom from 6,600 pounds sterling to 13,500 pounds for boarding schools, and 2,550 pounds to 9,300 pounds for day schools. Parents should have insurance cover in case of accidents or death. The planned launch of Individual Savings Accounts in 1999 could affect the selection of investment vehicles. Endowment policies can be used for school fees, and long-term loans may also be good options.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
User Contributions:
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