In the case of a deposit account or stock brokers account in name of a Minor with Parent as Trustee-How should the deposit interest or dividends be handled for Tax declaration purposes?
Any views would be appreciated
Minors can't own assets until 18, so my understanding is that any income from assets that parents may have allocated to them is still income of the parents'.
I was looking into setting up an account with Degiro for a minor child and purchasing a Vanguard ETF (s). It appears that I have to set up my own name? I suppose I could set up in joint names? I am concerned that there would be tax implications for myself. The funds are from the minor's bank account. Any thoughts or advice?
Minors can't own assets until 18, so my understanding is that any income from assets that parents may have allocated to them is still income of the parents'.
I was wondering about this also, I saw that ETFmatic have children's accounts, although not sure if in Ireland yet. Might a good way to get teenagers started on learning and thinking about investing.