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Original poster

Premium Bonds

2 replies

Larsson11 · 18/11/2024 13:22

Hello all.
Our children's grand father wants to transfer some money into our children's premium bonds. I'm not that financially savvy and wondered our there tax implications for him or us. One child is 12 and the other just turned 18 - not sure if that makes a difference.

OP posts:
Tel12 · 18/11/2024 13:27

Anyone can gift up for 3k per year without tax implications. Above that there's only inheritance tax implications if the person donating dies within 7 years, on a sliding scale. You can give away as much as you want, with that it in mind. No tax on any prizes.

Original poster
Larsson11 · 18/11/2024 15:44

That's good to know. Thanks tel12

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