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  • Bank Account in my name holding monies bequeathed to young person

    I have been an executor for a will. Part of the bequest is a sum of money for a younger relative, however the will stipulated that they are not to receive this money for a number of years. To maximise the value of this gift when eventually transferred, I have been looking at putting the money in fixed rate multi year bonds. These accounts pay interest gross. However, I complete tax returns, and these accounts would be in my name (as I'm required to manage them.) How do I ensure HMRC do not tax me on this money? (or rather, how do I assign someone else's tax allowance to this?)