Deed of Covenant to a student

[Honestcon]

I have a daughter in University. When I was at college, my Dad was able to make a deed of covenant to me.
But it looks to me that this option is not available any more? Payments can only be made to over 65s and incapacitated individuals...

Am I right?

 

[WizardDr]

Unfortunately yes.

 

[Monbretia]

Done away with years ago, I availed of the same to my younger brother for years way back when.

 

[Sue Ellen]

I have a daughter in University. When I was at college, my Dad was able to make a deed of covenant to me.
But it looks to me that this option is not available any more? Payments can only be made to over 65s and incapacitated individuals...

Perhaps you could avail of the Revenue Small Gift Exemption instead.

 

[TRS30]

I have a daughter in University. When I was at college, my Dad was able to make a deed of covenant to me.
But it looks to me that this option is not available any more? Payments can only be made to over 65s and incapacitated individuals...

Am I right?

Great days- how far £80 a month went back then!!

 

[dubdub123]

Any idea how does this work for incapacitated persons? Can you gift money annually to 18+ year old son? Would this reduce tax burden?
I remember the covenant years back but thought it was done away with

 

[Sue Ellen]

Any idea how does this work for incapacitated persons?

See here for info.

 

[Harvard]

I have a daughter in University. When I was at college, my Dad was able to make a deed of covenant to me.
But it looks to me that this option is not available any more? Payments can only be made to over 65s and incapacitated individuals...

Am I right?

All the rage in the 80's. Horse long since bolted unfortunately.

 

[Gordon Gekko]

A parent can support their child tax-free whilst in full-time education up to age 25.

And even beyond that, nobody cares, even Revenue, unless you’re enormously wealthy and acting the maggot.