University Fee Planning

With the on going cost of providing for our Children’s education running into University fees & dare I say it beyond! we need to look carefully at how we plan for this.

How about investing into an offshore Bond perhaps using a provider who offers daily lock ins on growth and very importantly a segmented policy, the growth is rolled up gross, then once the child reaches the age of 18 and hopefully is still a nil rate tax payer, segments can be assigned to them for tax free encashment.

Also don’t overlook the opportunity for savings to be accrued in a Junior ISA (JISA) with the annual allowance now increased to £4000, again a great way to plan for education costs.

As of 1/7/2014 the annual ISA allowance has been increased to £15000 each as well.

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