If you were given 10k for your child...

[Questionsquestionsquestions]

...where is the best place to put it until they reach 18?!
ISAs have an upper limit, so it can't go there - what other options are there, thinking sensibly? Anyone been in this situation and happy to share ideas>?

Thank you. With the CIP, does the money automatically become theirs at 18? Is there any gradual takeaway of responsibility, or is it theirs there and then? (I know there are some bonds etc where you can choose to give at 21 rather than 18)

I'd put as much as I can in the isa and then put another chunk in in April. I'd put the rest in a savings account and move it into the isa each year.

There are upper limits on ISAs but there are also savings accounts with good rates. Halifax is about 4% for new openers I think. You can only put in a fixed amount though.

I'd probably consider putting some in a stocks and shares ISA too, as presumably you're looking at fairly long term returns here. Although you don't say how old your child is so maybe not if they're 16!

I'd also get an ISA and put half in now and the rest in April. You get best rates on Junior ISAs if IRC, but it depends on whether you want it in your name or DC's.

Baillie Gifford Scottish Mortgage Fund.
The low fees outweigh the tax paid on others and also outweighs Jnr Isa rates. It’s also done well through the entire financial crisis.

You gain control for as long as you wish. I t can be beyond 21.

www.bailliegifford.com/en/uk/individual-investors/funds/scottish-mortgage-investment-trust/how-to-invest/

I'd also do what @seven201 says.