The cost of sending children to private school or indeed to university can
be a major drain on the family budget.
It is always best to plan ahead by saving a little each month towards the
costs later. Many people start even before the baby is due!!
There are many ways to save, ranging from ISAs to tax-free endowment
schemes, which may suit you.
Please
contact us
for a more in depth discussion.
Grandparents may also wish to help towards costs and again there are
tax effective ways in which monies can be given over into trusts for
grandchildren. Tax rules are, however, strict and without guidance
irreparable mistakes can be made which can lead to heavy tax bills.
Please
contact us
for the best advice on how to gift money to a
grandchild in trust.
You may find the following two documents useful:
