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Posted Thu, 29 Dec 2022 19:21:02 GMT by Amit Kumar
Hi Admin, I have opened a saving and current account for my child when he was 15. I was paying any taxes if the interest income was more than £100. He will be 18 next month. Do I need to pay taxes on interest his account earns once he is 18+? Thanks.
Posted Thu, 05 Jan 2023 11:19:53 GMT by HMRC Admin 20
Hi Amit Kumar,

You would not be required to pay tax on the interest once he is 18.

Thank you.

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