warman_kevin Warman
Joined: 9/11/2024
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Child savings tax
If a child has a savings account with funds provided by one or both parents and also from one or both grandparents and given that the interest on funds provided by the grandparents is not liable for tax whereas the interest on funds provided by parents IS liable for tax of it exceeds £100 how is the actual tax calculated as the capital has come from various sources. Is it best to keep parent versus grandparent funds in separate accounts?