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Interested in Our Child Savings Account?
At Finxemp Financial Group, tax-efficient savings vehicle which allows you to save up to £4,260 for the tax year.
The account is for the benefit of the child and therefore held in the name of the child, and all cash and investments belong to them. Normally you cannot access the funds until the child is 18 except in the case of death or terminal illness.
There are no investment limits on a First Steps IDA, but no tax advantages either. You control when the Child gets access to the investments.
Existing customer looking to top up a child savings account?
The easiest and quickest way for all our child savings accounts is our 24-hour online service. Log in using your Personal ID and password and top up by debit card.
This is a tax-advantaged way to save for your child's later life. You can invest up to £3,600 this tax year (you pay £2,880 and we claim £720 tax relief for you). Your child has control over the account from the age of 18 but can't access their savings until later in life. There is also no Capital Gains tax or Income tax.
IMPORTANT! Read the Investment Dealing Account Product Guide and our Charges Guide for all the details and before you make up your mind if our Investment Dealing Account is right for you.
Important Information
Please remember the value of your investments and any income from them can go down as well as up and you may get back less than the amount you originally invested. All investments carry an element of risk which may differ significantly. If you are unsure as to the suitability of any particular investment or product, you should seek professional financial advice.
Remember you can only contribute to one Stocks & Shares ISA, one Cash ISA, one Lifetime ISA and one Innovative Finance ISA each year, regardless of provider. If you have contributed to a Cash ISA and/ or Innovative Finance ISA this will reduce the amount you can contribute to a Stocks & Shares ISA.
Laws and tax rules may change in the future without notice. The information here is our understanding in April 2018. This information takes no account of your personal circumstances which may have an impact on tax treatment.
4.9/5.0
by 700+ customers for 3200+ clients
At Finxemp Group, we provide a wide range of financial services and solutions to organizations, businesses, business owners, and private individuals within the communities we serve. Our team brings many years of experience in the financial sector, enabling us to deliver reliable and tailored financial support.
