5 overlooked areas of tax planning
By Will Grahame-Clarke, 8 Feb 18
Seven Investment Management (7IM) highlights five often overlooked ways that investors can make the most of tax efficient saving and investing in general.
16 and 17 year olds – the Isa ‘double whammy’
“It is usually the case that if something looks too good to be true, it probably is,” says Martin. “But this isn’t the case with the Isa ‘double whammy’ for 16 and 17-year olds.
“Whether by luck or design, 16 and 17-year olds currently get two Isa allowances, because they can open an adult Isa from age 16 alongside their Junior Isa, although they can’t open a Junior Isa if they have a child trust fund. That could mean putting aside up to £24,128 in your child’s name tax free in the 2017/18 tax year.”
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