69- Parents Should Watch Out For This Tax Trap (£100 Settlement Rule)

If you gift wealth to your children and that wealth isn't held in a tax efficient wrapper (for example a Junior ISA) then you need to be aware of this quirky, lesser-known, tax rule. It isn't as complicated as it sounds, but you need to appreciate how it operates in practise so you can organise your financial planning around it. In this episode Benjamin explains everything you need to think about, jargon-free as always. Join Benjamin Mitchell (themoneyscot), serial hater of financial jargon, as he helps make your finances clearer and ensures you never make another financial mistake. Getting on top of your personal finances doesn't need to be complicated or scary. Arm yourself with the only knowledge you need to transform yourself from money novice to money nerd!  Take my 5 minute retirement assessment (can you already afford to retire?) 🚀Disclaimer - please note that nothing in this podcast can be relied upon as financial advice and the content is provided purely for information and guidance purposes. Please seek independent, regulated financial advice relevant to your situation.