Parsimonious
Newbie
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My question is does anyone know an online or telephone execution broker (UK or US) that will allow for a reference to be placed on the trade, and is cheap ie no more than €20 per trade.
I live in Ireland where we have €1260 Cap Gains threshold therafter profits taxed at 25%.
I ask the above question because I and the wife have had a nice run on shares and we will likely start paying Cap Gains on future trade profits this year.
But my children aren't using their cap gains allowance and these investments are for their fees in secondary and uni.
To maximise the use of their Cap Gains threshold obviously I should set up an account for them, but can't as they are under 18 unless I set up a trust which is very expensive (looked at The Share Centre).
Then I thought if I had a reference on a trade under my account referring to the child, that reference would qualify the trade to be considered as the child's trade for cap gains purposes - At least that will be my argument should I be audited.
Alternatively someone out there might know of a less costly manner to set up a brokerage account for the children that is cost efficient.
I live in Ireland where we have €1260 Cap Gains threshold therafter profits taxed at 25%.
I ask the above question because I and the wife have had a nice run on shares and we will likely start paying Cap Gains on future trade profits this year.
But my children aren't using their cap gains allowance and these investments are for their fees in secondary and uni.
To maximise the use of their Cap Gains threshold obviously I should set up an account for them, but can't as they are under 18 unless I set up a trust which is very expensive (looked at The Share Centre).
Then I thought if I had a reference on a trade under my account referring to the child, that reference would qualify the trade to be considered as the child's trade for cap gains purposes - At least that will be my argument should I be audited.
Alternatively someone out there might know of a less costly manner to set up a brokerage account for the children that is cost efficient.