Investments for Children

[Now_and_Then]

Hi All,

I have a young son and I want to put away a little on a regular basis for his future. I was wondering what investments are there available for children. The boy was born in London and has a Child Trust Fund in the UK. The UK government gives a small amount of money to children shortly after they're born and you can invest it as you see fit. His is in equities in a specialist Child Trust Fund. (We are both permanently resident in Ireland now.)

Are there similar child funds in Ireland, hopefully with some sort of tax advantages? I asked in AIB on Grafton Street and it took them quarter of an hour to decide that they had nothing.

What I am interested in is
A: Funds with the potential for decent medium/long term growth which are designed for very young children or can be used by children and are hopefully not subject to silly tax.
B: If the above is not available then high interest, low tax children's savings accounts.

Any help greatly appreciated.

 

[ClubMan]

There are many, many existing threads about savings/investment options for children which you should search out and read first. In general there are no tax breaks specific to child savings in Ireland. For long term investments you should at least consider a (full or partial) equity unit linked fund rather than a deposit account as the former should hold out a better possibility of higher returns in the long term.