Tax issues for Children's savings accounts

[Ndiddy]

Are there any tax or legal issues to be aware of if I open savings accounts in my children's names with me a the parent? They are both under 5. DIRT is taken out automatically so is there anything else to consider. Kid's accounts also seem to be the only accounts with any interest.....

 

[Gordon Gekko]

Are there any tax or legal issues to be aware of if I open savings accounts in my children's names with me a the parent? They are both under 5. DIRT is taken out automatically so is there anything else to consider. Kid's accounts also seem to be the only accounts with any interest.....

Are you opening the accounts in their names but with the money still being yours?

 

[Ndiddy]

Their savings ( Child benefit, Xmas, etc.) and I will probably add to it over the years.

 

[Pinoy adventure]

Which kids accounts are getting any sort of interest ??