Investing for children
Looking for advice on investing for children’s future. Daughter is 2 and we have been putting £150 a month so far into a child savings account which we planned to increase yearly when we are earning more and will do same for any future children.
I wanted to have control over the money so kids don’t get everything at 18 but didn’t take into account that child savings get taxed if the money has come from parents and if we increase contributions in the future it might geg to over the threshold.
Would be happy for our kids to get 50% of savings we’ve invested at 18 but would like to keep a decent amount back until older.
Is it advisable to set up a S&S ISA and contribute say £50 a month and then the other £100 a month in either child savings or a cash ISA or S&S ISA (or £50 in cas ISA / £50 S&S ISA)?
Grandparents would also like the contribute a regular monthly amount of around £50 - where would be best account for them to do so?