Shares designated for children.

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MarillionFan replied

11 September 2011, 14:55
Originally posted by suityou01 View Post

Not sure cock. This is a bit heavy for a Sunday morning. Why not ask your team of accountants?

BTW. I asked my accountant whether your plan for your kids was viable. He said that yes, if you sell your body to be melted down for candle wax when you die then yes your kids will not have to pay tax unless the total amount of blubber is more than 450lbs. He suggested that you lose a bit of weight so you can stay under the tax threshold chubs.
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suityou01 replied

11 September 2011, 10:20
Not sure cock. This is a bit heavy for a Sunday morning. Why not ask your team of accountants?
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MarillionFan started a topic Shares designated for children.

11 September 2011, 07:58
Shares designated for children.
I am aware that shares cannot be owned by anyone under 18, but appears you can designate shares for a child. I'm not sure I understand the £100 during any tax year part. I am assuming that is relating to dividend payments, but what if you elected to have that paid as scrip dividends? Does that alleviate the tax issue?

Had anyone bought and designated shares for their kids?

"There are a number of options available for parents, grandparents and other adults who want to invest in the stock market on behalf of a child. However, as ownership of stocks and shares is restricted to people over the age of 18, assets are often held and managed by the parent/guardian/grandparent until the child reaches adulthood.

Share Certificates - account designate

As we’ve already mentioned, stocks and shares cannot be held by anyone under the age of 18. However, an adult can purchase shares in their own name adding the child's initials to the account holder name (called 'designation'). This allows you to treat the income as the child's and transfer the assets to them when they reach 18.
Points to consider
If an investment has been designated to a minor it will, never the less, be legally owned by the adult who invested in it.

When the designated person turns eighteen, the original investor may complete a stock transfer form to request for the investment to be transferred into their name free of charge.

If the investment generates an income of over £100 during any tax year, it will be treated as the parent´s income and taxed accordingly. This applies until the child is eighteen unless they get married before that time."
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