Tax Free Savings Plans
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Tax Free Savings Plans
Just like adults, children have their own personal tax allowance.Therefore, any income they receive within the limit will be tax-free, and this applies to all types of income.
Money from grandparents, together with any income this generates, will be treated as the child's own.
Friendly Societies
Many providers such as Friendly Societies offer tax-exempt savings plans for children. For more information about these companies and their products, click here
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