thecoffeepod
Registered User
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- 261
Hi all,
I will be having my first child next year in February and I am thinking about saving €3000 per year to avail of the gift tax exemption
I want to invest the money in a trust under a unit-linked savings plan until they are 18
I understand that there is an exit tax of 41% after 8 years, but the returns are typically better on unit-linked plans due to higher risk
This is in comparison to the state savings where there is no deposit interest retention tax, universal social charge, PRSI or income tax on gains, but the returns are relatively low eg 2.2% on a 10 year bond (100,000 deposit scheme in place)
or a standard savings account where there is deposit interest retention tax and the returns are typically around 3%. (protected by deposit scheme(
Regarding the unit-linked savings plan (unprotected investment)
Has anyone on here availed of such for their children and could point me in the right direction of what company they went with?
Many thanks.
I will be having my first child next year in February and I am thinking about saving €3000 per year to avail of the gift tax exemption
I want to invest the money in a trust under a unit-linked savings plan until they are 18
I understand that there is an exit tax of 41% after 8 years, but the returns are typically better on unit-linked plans due to higher risk
This is in comparison to the state savings where there is no deposit interest retention tax, universal social charge, PRSI or income tax on gains, but the returns are relatively low eg 2.2% on a 10 year bond (100,000 deposit scheme in place)
or a standard savings account where there is deposit interest retention tax and the returns are typically around 3%. (protected by deposit scheme(
Regarding the unit-linked savings plan (unprotected investment)
Has anyone on here availed of such for their children and could point me in the right direction of what company they went with?
Many thanks.