Putting away a nest egg for a child is a wonderful gift for their future. Not only can they start their adult lives with some savings in hand, but getting children involved early with saving also helps them to learn important lessons about money. It is also a way for grandparents and relatives to get involved and can help their own tax position and benefit the child.
Indeed, The Child Trust Fund was launched by the government in 2005 with the aim of ensuring ‘every child would have savings at the age of 18, helping children get into the habit of saving whilst teaching them the benefits of saving and helping them understand personal finance.’
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