Gifts to Grand Children can be a excellent way for Grand Parents to put annual money away outside their estate for their Grand Children.

A JUNIOR ISA (JISA) is a tax efficient option.

A JISA can be opened for any Grand Child up to the age of 18 years old
A annual contribution of up to £9,000 can be made, this falls outside and IHT rules for the Grant Parents
A maximum fund value up to £200k
Income goes in Tax Free
Withdrawal go out Tax Free
Contributions can be made up to the Grand Childs 18th Birthday then the JISA turns in to a Normal ISA and contributions must cease

If you would like to discuss this or any other Inheritance Tax Planning please contact our office and we would be pleased to assist.
0114 2630600